Lightspeed Commerce (NYSE:LSPD) Hits New 1-Year Low After Analyst Downgrade
Lightspeed Commerce (NYSE:LSPD) stock hit a new 1-year low after an analyst downgrade. JPMorgan Chase & Co. lowered their price target on the stock, causing it to trade as low as $10.80. The stock had previously closed at $11.92. Several other analysts have also issued reports on LSPD, with a consensus rating of "Hold" and a price target of $18.28. Institutional investors own 68.68% of the company's stock. The company recently reported better-than-expected earnings for the quarter.
Lightspeed Commerce Inc. (NYSE:LSPD - Get Free Report)'s stock price hit a new 52-week low on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $16.00 to $15.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Lightspeed Commerce traded as low as $10.80 and last traded at $10.80, with a volume of 3296 shares traded. The stock had previously closed at $11.92.
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Several other equities analysts also recently issued reports on LSPD. National Bankshares lifted their price objective on Lightspeed Commerce from $15.00 to $16.00 and gave the company a "sector perform" rating in a research report on Friday, May 17th. UBS Group lifted their price objective on Lightspeed Commerce from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Tuesday, May 21st. Cibc World Mkts upgraded Lightspeed Commerce from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 24th. Wells Fargo & Company dropped their target price on Lightspeed Commerce from $17.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 31st. Finally, Bank of America boosted their target price on Lightspeed Commerce from $19.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, May 17th. Ten analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $18.28.
Check Out Our Latest Stock Report on LSPD
Institutional Investors Weigh In On Lightspeed Commerce
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Hedge funds and other institutional investors have recently bought and sold shares of the company. TD Asset Management Inc boosted its position in shares of Lightspeed Commerce by 0.5% during the 4th quarter. TD Asset Management Inc now owns 361,808 shares of the company's stock valued at $7,633,000 after purchasing an additional 1,938 shares in the last quarter. Addenda Capital Inc. raised its stake in shares of Lightspeed Commerce by 5.3% in the first quarter. Addenda Capital Inc. now owns 39,845 shares of the company's stock worth $560,000 after purchasing an additional 1,990 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Lightspeed Commerce in the first quarter valued at approximately $35,000. CIBC Asset Management Inc grew its holdings in shares of Lightspeed Commerce by 3.8% in the fourth quarter. CIBC Asset Management Inc now owns 151,989 shares of the company's stock valued at $3,201,000 after acquiring an additional 5,559 shares in the last quarter. Finally, Conestoga Capital Advisors LLC bought a new position in Lightspeed Commerce during the first quarter valued at $141,000. Institutional investors own 68.68% of the company's stock.
Lightspeed Commerce Stock Down 9.1 %
The stock has a fifty day moving average price of $13.99 and a 200 day moving average price of $14.35. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.34 and a quick ratio of 6.23. The stock has a market capitalization of $1.66 billion, a P/E ratio of -11.14 and a beta of 2.33.
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Lightspeed Commerce (NYSE:LSPD - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.03. The business had revenue of $266.10 million for the quarter, compared to the consensus estimate of $258.58 million. Lightspeed Commerce had a negative return on equity of 0.98% and a negative net margin of 15.55%. The company's revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.14) earnings per share. On average, research analysts forecast that Lightspeed Commerce Inc. will post -0.39 earnings per share for the current year.
Lightspeed Commerce Company Profile
(Get Free Report)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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