Lightspeed Commerce (NYSE:LSPD) Given New $16.00 Price Target at JPMorgan Chase & Co.

Lightspeed Commerce (NYSE:LSPD) had its price objective dropped by JPMorgan Chase & Co. from $17.00 to $16.00 in a report issued on Friday, BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 2.96% from the stock’s current price.

Other equities analysts have also issued reports about the company. Barclays dropped their price target on Lightspeed Commerce from $23.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Jefferies Financial Group initiated coverage on shares of Lightspeed Commerce in a report on Wednesday. They issued a “hold” rating and a $14.00 price target for the company. BMO Capital Markets raised their price objective on Lightspeed Commerce from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday. National Bankshares raised their price target on Lightspeed Commerce from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, TD Securities cut shares of Lightspeed Commerce from a “buy” rating to a “hold” rating and cut their price objective for the company from $25.00 to $17.50 in a research report on Friday, February 9th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $18.61.

Lightspeed Commerce Price Performance

LSPD traded up $0.44 on Friday, hitting $15.54. 1,101,650 shares of the company’s stock traded hands, compared to its average volume of 1,338,045. Lightspeed Commerce has a one year low of $12.23 and a one year high of $21.71. The company has a current ratio of 6.21, a quick ratio of 6.09 and a debt-to-equity ratio of 0.01. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -11.52 and a beta of 2.34. The company’s 50 day simple moving average is $13.53 and its 200-day simple moving average is $15.66.

Hedge Funds Weigh In On Lightspeed Commerce

A number of large investors have recently bought and sold shares of LSPD. Russell Investments Group Ltd. purchased a new position in Lightspeed Commerce during the fourth quarter worth about $2,819,000. Vanguard Group Inc. raised its stake in shares of Lightspeed Commerce by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,938,501 shares of the company’s stock worth $69,287,000 after buying an additional 72,890 shares in the last quarter. Triasima Portfolio Management inc. purchased a new position in shares of Lightspeed Commerce during the 4th quarter worth approximately $1,653,000. Public Sector Pension Investment Board lifted its holdings in shares of Lightspeed Commerce by 1.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 295,780 shares of the company’s stock valued at $4,174,000 after buying an additional 4,229 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Lightspeed Commerce by 19.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,674,070 shares of the company’s stock worth $37,517,000 after purchasing an additional 427,320 shares in the last quarter. Hedge funds and other 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.