Lightspeed Commerce (NYSE:LSPD) Price Target Cut to $13.00 by Analysts at Wells Fargo & Company

Lightspeed Commerce (NYSE:LSPD) had its price objective cut by Wells Fargo & Company from $16.00 to $13.00 in a report released on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

LSPD has been the topic of a number of other reports. JPMorgan Chase & Co. upped their price target on shares of Lightspeed Commerce from $20.00 to $26.00 in a report on Friday, November 8th. Benchmark raised their target price on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Barclays lowered Lightspeed Commerce from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $20.00 to $18.00 in a report on Friday, January 10th. Royal Bank of Canada upgraded Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a report on Friday, November 8th. Finally, TD Securities increased their price target on Lightspeed Commerce from $15.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Nine analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Lightspeed Commerce has a consensus rating of “Hold” and a consensus price target of $18.39.

Lightspeed Commerce Stock Up 4.3 %

LSPD stock opened at $13.14 on Friday. Lightspeed Commerce has a 12 month low of $11.01 and a 12 month high of $18.96. The company has a 50-day moving average price of $15.53 and a 200 day moving average price of $14.99. The company has a quick ratio of 5.94, a current ratio of 6.08 and a debt-to-equity ratio of 0.01.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings results on Thursday, February 6th. 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 positive return on equity of 0.60% and a negative net margin of 11.75%. On average, equities analysts expect that Lightspeed Commerce will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

Institutional investors and hedge funds have recently bought and sold shares of the company. AGF Management Ltd. acquired a new stake in shares of Lightspeed Commerce in the 4th quarter worth $1,295,000. Amundi grew its stake in shares of Lightspeed Commerce by 20.5% during the fourth quarter. Amundi now owns 22,538 shares of the company’s stock worth $347,000 after acquiring an additional 3,838 shares during the last quarter. PCJ Investment Counsel Ltd. increased its holdings in shares of Lightspeed Commerce by 33.8% during the fourth quarter. PCJ Investment Counsel Ltd. now owns 123,060 shares of the company’s stock valued at $1,874,000 after acquiring an additional 31,060 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Lightspeed Commerce by 5.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 24,296 shares of the company’s stock valued at $370,000 after acquiring an additional 1,276 shares in the last quarter. Finally, NINE MASTS CAPITAL Ltd purchased a new position in shares of Lightspeed Commerce in the 4th quarter valued at approximately $579,000. 68.68% of the stock is owned by hedge funds and other institutional investors.

About Lightspeed Commerce

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.