Scotiabank Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $17.00

Lightspeed Commerce (NYSE:LSPD) had its price target reduced by Scotiabank from $19.00 to $17.00 in a research note published on Tuesday, MarketBeat Ratings reports. Scotiabank currently has a sector outperform rating on the stock.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company reduced their price objective on Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Piper Sandler reduced their price target on shares of Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Barclays dropped their price objective on shares of Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. UBS Group cut their target price on shares of Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating for the company in a research report on Friday, February 7th. Finally, Bank of America assumed coverage on shares of Lightspeed Commerce in a research report on Wednesday, February 19th. They issued a “buy” rating and a $20.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.82.

Lightspeed Commerce Stock Performance

Shares of NYSE LSPD opened at $9.37 on Tuesday. The firm’s 50-day moving average price is $12.63 and its 200-day moving average price is $14.73. Lightspeed Commerce has a 52-week low of $9.25 and a 52-week high of $18.96. The company has a market cap of $1.43 billion, a PE ratio of -11.71, a PEG ratio of 3.03 and a beta of 2.44. The company has a quick ratio of 5.99, a current ratio of 6.10 and a debt-to-equity ratio of 0.01.

Lightspeed Commerce (NYSE:LSPD) last issued its earnings results on Thursday, February 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.07). Lightspeed Commerce had a positive return on equity of 0.61% and a negative net margin of 11.75%. As a group, analysts anticipate that Lightspeed Commerce will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Lightspeed Commerce

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Algert Global LLC purchased a new stake in Lightspeed Commerce in the 3rd quarter worth $448,000. FMR LLC increased its holdings in shares of Lightspeed Commerce by 7.1% in the third quarter. FMR LLC now owns 58,971 shares of the company’s stock worth $972,000 after purchasing an additional 3,900 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Lightspeed Commerce in the third quarter worth about $499,000. PDT Partners LLC bought a new position in Lightspeed Commerce during the third quarter valued at approximately $659,000. Finally, Azora Capital LP grew its holdings in Lightspeed Commerce by 3.4% during the 3rd quarter. Azora Capital LP now owns 1,439,331 shares of the company’s stock valued at $23,735,000 after buying an additional 47,359 shares in the last quarter. Institutional investors own 68.68% of the company’s stock.

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.