BMO Capital Markets Trims Lightspeed Commerce (NYSE:LSPD) Target Price to $19.00

Lightspeed Commerce (NYSE:LSPDFree Report) had its price target trimmed by BMO Capital Markets from $21.00 to $19.00 in a report released on Friday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts also recently issued reports on LSPD. TD Securities downgraded Lightspeed Commerce from a buy rating to a hold rating and lowered their price objective for the company from $25.00 to $17.50 in a research note on Friday. Piper Sandler lowered their price objective on Lightspeed Commerce from $20.00 to $18.00 and set a neutral rating for the company in a research note on Friday. JPMorgan Chase & Co. lowered their price objective on Lightspeed Commerce from $19.00 to $17.00 and set a neutral rating for the company in a research note on Friday. Wells Fargo & Company lowered their price objective on Lightspeed Commerce from $20.00 to $17.00 and set an equal weight rating for the company in a research note on Friday. Finally, UBS Group assumed coverage on Lightspeed Commerce in a research note on Friday, October 20th. They issued a neutral rating and a $16.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $18.87.

Check Out Our Latest Report on LSPD

Lightspeed Commerce Stock Performance

Lightspeed Commerce stock opened at $13.83 on Friday. The business has a 50 day moving average of $18.49 and a 200-day moving average of $16.39. Lightspeed Commerce has a 1 year low of $12.23 and a 1 year high of $21.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.21 and a quick ratio of 6.09. The company has a market capitalization of $2.11 billion, a P/E ratio of -10.24 and a beta of 2.52.

Hedge Funds Weigh In On Lightspeed Commerce

A number of institutional investors and hedge funds have recently modified their holdings of LSPD. PNC Financial Services Group Inc. raised its position in shares of Lightspeed Commerce by 112.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,299 shares of the company’s stock worth $40,000 after purchasing an additional 688 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Lightspeed Commerce by 2,570.7% during the third quarter. Tower Research Capital LLC TRC now owns 4,006 shares of the company’s stock worth $56,000 after purchasing an additional 3,856 shares during the period. Advisors Asset Management Inc. raised its position in shares of Lightspeed Commerce by 53.2% during the third quarter. Advisors Asset Management Inc. now owns 4,553 shares of the company’s stock worth $64,000 after purchasing an additional 1,582 shares during the period. Captrust Financial Advisors raised its position in shares of Lightspeed Commerce by 24.1% during the second quarter. Captrust Financial Advisors now owns 2,975 shares of the company’s stock worth $66,000 after purchasing an additional 577 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Lightspeed Commerce during the third quarter worth approximately $67,000. 51.98% of the stock is currently owned by institutional investors.

Lightspeed Commerce Company Profile

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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.

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