Short Interest in Lightspeed Commerce Inc. (NYSE:LSPD) Increases By 15.9%

Lightspeed Commerce Inc. (NYSE:LSPD – Get Rating) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 4,080,000 shares, an increase of 15.9% from the February 13th total of 3,520,000 shares. Based on an average daily volume of 995,400 shares, the days-to-cover ratio is presently 4.1 days. Approximately 3.1% of the shares of the company are short sold.

Hedge Funds Weigh In On Lightspeed Commerce

Several hedge funds have recently made changes to their positions in LSPD. Vanguard Group Inc. grew its stake in Lightspeed Commerce by 9.3% in the third quarter. Vanguard Group Inc. now owns 4,634,517 shares of the company’s stock worth $81,475,000 after purchasing an additional 393,711 shares during the period. Royal Bank of Canada grew its stake in Lightspeed Commerce by 249.8% in the first quarter. Royal Bank of Canada now owns 3,280,715 shares of the company’s stock worth $99,964,000 after purchasing an additional 2,342,867 shares during the period. Artisan Partners Limited Partnership grew its stake in Lightspeed Commerce by 11.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 3,255,287 shares of the company’s stock worth $46,521,000 after purchasing an additional 327,199 shares during the period. Wellington Management Group LLP grew its stake in Lightspeed Commerce by 212.7% in the first quarter. Wellington Management Group LLP now owns 2,478,103 shares of the company’s stock worth $75,508,000 after purchasing an additional 1,685,608 shares during the period. Finally, Bank of Montreal Can grew its stake in Lightspeed Commerce by 4.0% in the fourth quarter. Bank of Montreal Can now owns 1,978,171 shares of the company’s stock worth $40,771,000 after purchasing an additional 76,170 shares during the period. 51.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LSPD has been the subject of several recent research reports. CIBC lowered Lightspeed Commerce from a “sector outperform” rating to a “neutral” rating in a report on Thursday, February 2nd. Stifel Nicolaus started coverage on Lightspeed Commerce in a report on Wednesday, January 11th. They issued a “hold” rating for the company. Moffett Nathanson lowered Lightspeed Commerce from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $23.00 to $17.00 in a report on Tuesday, March 7th. Credit Suisse Group lowered Lightspeed Commerce from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $21.00 to $18.00 in a report on Friday, February 3rd. Finally, Truist Financial lifted their target price on Lightspeed Commerce from $25.00 to $30.00 and gave the company a “buy” rating in a report on Friday, February 3rd. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Lightspeed Commerce currently has a consensus rating of “Moderate Buy” and an average price target of $25.94.

Lightspeed Commerce Stock Performance

Shares of LSPD stock opened at $14.08 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.49 and a current ratio of 6.56. Lightspeed Commerce has a fifty-two week low of $12.71 and a fifty-two week high of $34.14. The stock has a 50 day moving average price of $16.16 and a two-hundred day moving average price of $16.58. The company has a market capitalization of $2.12 billion, a P/E ratio of -1.91 and a beta of 2.31.

About Lightspeed Commerce

(Get Rating)

Lightspeed Commerce Inc provides commerce enabling Software as a Service (SaaS) platform for small and midsize businesses, retailers, restaurants, and golf course operators in Canada, the United States, Australia, the Netherlands, and internationally. Its SaaS platform enables customers to engage with consumers, manage operations, accept payments, etc.