Westfield Capital Management Co. LP Increases Stock Position in Lightspeed Commerce Inc. (NYSE:LSPD)

Westfield Capital Management Co. LP boosted its holdings in shares of Lightspeed Commerce Inc. (NYSE:LSPD) by 30.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,325,531 shares of the company’s stock after acquiring an additional 766,688 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Lightspeed Commerce were worth $54,838,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Lightspeed Commerce by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,099,482 shares of the company’s stock valued at $71,699,000 after buying an additional 62,394 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Lightspeed Commerce by 297.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 90,296 shares of the company’s stock valued at $1,236,000 after purchasing an additional 67,584 shares during the last quarter. Addenda Capital Inc. boosted its position in shares of Lightspeed Commerce by 10.5% in the 2nd quarter. Addenda Capital Inc. now owns 44,041 shares of the company’s stock worth $603,000 after purchasing an additional 4,196 shares in the last quarter. NewGen Asset Management Ltd purchased a new position in Lightspeed Commerce during the 2nd quarter worth $9,241,000. Finally, CIBC Asset Management Inc increased its position in Lightspeed Commerce by 6.6% during the 2nd quarter. CIBC Asset Management Inc now owns 175,008 shares of the company’s stock valued at $2,391,000 after buying an additional 10,809 shares in the last quarter. Institutional investors own 68.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Piper Sandler increased their price objective on shares of Lightspeed Commerce from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Royal Bank of Canada upgraded shares of Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a research note on Friday, November 8th. Wells Fargo & Company cut their target price on Lightspeed Commerce from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on Lightspeed Commerce from $20.00 to $26.00 in a research report on Friday, November 8th. Finally, Benchmark increased their price objective on Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, November 8th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.88.

Lightspeed Commerce Stock Performance

NYSE LSPD opened at $17.74 on Monday. The stock has a 50-day moving average of $15.86 and a 200 day moving average of $14.40. 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 Inc. has a twelve month low of $11.01 and a twelve month high of $21.71.

Lightspeed Commerce (NYSE:LSPD) last announced its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. Lightspeed Commerce had a negative return on equity of 0.10% and a negative net margin of 13.56%. The business had revenue of $277.18 million during the quarter, compared to the consensus estimate of $273.90 million. As a group, equities research analysts expect that Lightspeed Commerce Inc. will post -0.02 earnings per share for the current fiscal year.

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.