Lightspeed Commerce (NYSE:LSPD) PT Lowered to $15.00 at Wells Fargo & Company

Lightspeed Commerce (NYSE:LSPD) had its price objective lowered by Wells Fargo & Company from $17.00 to $15.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Bank of America upped their price objective on shares of Lightspeed Commerce from $19.00 to $20.00 and gave the stock a neutral rating in a research report on Friday, May 17th. Piper Sandler lowered their price objective on shares of Lightspeed Commerce from $18.00 to $17.00 and set a neutral rating for the company in a research report on Monday, May 20th. Scotiabank raised their target price on Lightspeed Commerce from $20.00 to $21.00 and gave the company a sector outperform rating in a report on Friday, May 17th. National Bankshares boosted their price target on Lightspeed Commerce from $15.00 to $16.00 and gave the stock a sector perform rating in a report on Friday, May 17th. Finally, UBS Group raised their price objective on Lightspeed Commerce from $17.00 to $18.00 and gave the company a neutral rating in a research note on Tuesday, May 21st. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $18.19.

Lightspeed Commerce Stock Down 9.5 %

Lightspeed Commerce stock opened at $11.92 on Wednesday. Lightspeed Commerce has a twelve month low of $11.80 and a twelve month high of $21.71. The company has a quick ratio of 6.23, a current ratio of 6.34 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $13.99 and a 200-day moving average of $14.38. The stock has a market capitalization of $1.83 billion, a PE ratio of -11.14 and a beta of 2.33.

Lightspeed Commerce (NYSE:LSPD) last released its earnings results on Thursday, May 16th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.16. The firm had revenue of $230.22 million during the quarter, compared to analysts’ expectations of $224.08 million. Lightspeed Commerce had a negative return on equity of 0.98% and a negative net margin of 15.55%. On average, equities research analysts anticipate that Lightspeed Commerce will post -0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

A number of hedge funds have recently bought and sold shares of LSPD. Westfield Capital Management Co. LP acquired a new stake in Lightspeed Commerce during the 1st quarter worth about $34,984,000. Norges Bank acquired a new position in Lightspeed Commerce in the fourth quarter valued at approximately $25,993,000. Hillsdale Investment Management Inc. boosted its holdings in shares of Lightspeed Commerce by 365.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 1,348,120 shares of the company’s stock worth $28,317,000 after buying an additional 1,058,320 shares in the last quarter. Azora Capital LP grew its position in shares of Lightspeed Commerce by 133.1% during the 4th quarter. Azora Capital LP now owns 1,579,312 shares of the company’s stock worth $33,166,000 after buying an additional 901,861 shares during the period. Finally, NewGen Asset Management Ltd bought a new stake in shares of Lightspeed Commerce in the 2nd quarter valued at $9,241,000. Institutional investors own 68.68% of the company’s stock.

Lightspeed Commerce Company Profile

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.