Lightspeed Commerce (NYSE:LSPD) Shares Gap Down on Disappointing Earnings

Shares of Lightspeed Commerce Inc. (NYSE:LSPD) gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $14.50, but opened at $13.10. Lightspeed Commerce shares last traded at $12.62, with a volume of 309,641 shares trading hands.

The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.07). Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%.

Wall Street Analyst Weigh In

LSPD has been the topic of several recent research reports. Benchmark increased their price objective on Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Barclays cut shares of Lightspeed Commerce from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $20.00 to $18.00 in a research report on Friday, January 10th. TD Securities boosted their price objective on shares of Lightspeed Commerce from $15.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Wells Fargo & Company cut their price objective on shares of Lightspeed Commerce from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Finally, Piper Sandler boosted their price target on shares of Lightspeed Commerce from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Nine investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lightspeed Commerce presently has a consensus rating of “Hold” and an average target price of $19.50.

Institutional Investors Weigh In On Lightspeed Commerce

Several institutional investors and hedge funds have recently bought and sold shares of LSPD. Blue Trust Inc. raised its stake in Lightspeed Commerce by 214.4% in the fourth quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock worth $25,000 after buying an additional 1,025 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Lightspeed Commerce in the 3rd quarter worth approximately $225,000. Toronto Dominion Bank lifted its stake in shares of Lightspeed Commerce by 153.4% in the 3rd quarter. Toronto Dominion Bank now owns 17,408 shares of the company’s stock valued at $287,000 after purchasing an additional 10,538 shares during the period. Polar Asset Management Partners Inc. bought a new stake in shares of Lightspeed Commerce during the third quarter valued at approximately $412,000. Finally, Algert Global LLC purchased a new stake in Lightspeed Commerce in the third quarter worth $448,000. Hedge funds and other institutional investors own 68.68% of the company’s stock.

Lightspeed Commerce Stock Performance

The company has a quick ratio of 5.94, a current ratio of 6.08 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.91 billion, a P/E ratio of -14.09 and a beta of 2.43. The business has a fifty day simple moving average of $15.65 and a 200-day simple moving average of $15.00.

Lightspeed Commerce Company Profile

Lightspeed Commerce Inc engages in sale of cloud-based software subscriptions and payments solutions for small and midsize businesses, retailers, restaurants, and golf course operators in North America, Europe, the United Kingdom, Australia, New Zealand, and internationally. Its Software as a Service platform enables customers to engage with consumers, manage operations, accept payments, etc.