Bank of Montreal Can Sells 58,681 Shares of Lightspeed Commerce Inc. (NYSE:LSPD)

Bank of Montreal Can reduced its stake in Lightspeed Commerce Inc. (NYSE:LSPD) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,001,233 shares of the company’s stock after selling 58,681 shares during the period. Bank of Montreal Can owned 1.32% of Lightspeed Commerce worth $33,423,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Toronto Dominion Bank raised its stake in Lightspeed Commerce by 102.8% in the second quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock worth $94,000 after buying an additional 3,482 shares in the last quarter. Headlands Technologies LLC bought a new position in Lightspeed Commerce in the second quarter worth about $181,000. Aigen Investment Management LP bought a new position in Lightspeed Commerce in the third quarter worth about $225,000. Algert Global LLC bought a new position in Lightspeed Commerce in the third quarter worth about $448,000. Finally, Addenda Capital Inc. raised its stake in Lightspeed Commerce by 10.5% in the second quarter. Addenda Capital Inc. now owns 44,041 shares of the company’s stock worth $603,000 after buying an additional 4,196 shares in the last quarter. 68.68% of the stock is owned by institutional investors.

Lightspeed Commerce Trading Up 2.8 %

NYSE:LSPD opened at $18.77 on Friday. Lightspeed Commerce Inc. has a 52 week low of $11.01 and a 52 week high of $21.71. The company has a quick ratio of 5.94, a current ratio of 6.08 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average price is $16.27 and its 200-day moving average price is $14.53. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of -21.09 and a beta of 2.35.

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

Wall Street Analyst Weigh In

LSPD has been the subject of a number of research reports. BMO Capital Markets increased their price target on shares of Lightspeed Commerce from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Piper Sandler upped their price objective on shares of Lightspeed Commerce from $15.00 to $17.00 and gave the stock a “neutral” rating in a 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 report on Friday, November 8th. Benchmark upped their price objective on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Lightspeed Commerce from $20.00 to $26.00 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, Lightspeed Commerce presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.88.

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.