Lightspeed Commerce (NYSE:LSPD) Shares Gap Down on Analyst Downgrade

Lightspeed Commerce Inc. (NYSE:LSPD – Get Rating) gapped down before the market opened on Thursday after Piper Sandler lowered their price target on the stock from $18.00 to $15.00. The stock had previously closed at $14.88, but opened at $13.72. Lightspeed Commerce shares last traded at $13.47, with a volume of 729,733 shares traded.

Several other research firms have also recently commented on LSPD. Credit Suisse Group cut their price objective on shares of Lightspeed Commerce from $18.00 to $15.00 in a research report on Friday. Morgan Stanley cut their price objective on shares of Lightspeed Commerce from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Friday, February 3rd. KeyCorp cut their price objective on shares of Lightspeed Commerce from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 5th. Barclays cut their price objective on shares of Lightspeed Commerce from $20.00 to $17.00 in a research report on Friday. Finally, Bank of America cut their price objective on shares of Lightspeed Commerce from $20.00 to $18.00 in a research report on Thursday. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.69.

Institutional Investors Weigh In On Lightspeed Commerce

Several hedge funds have recently added to or reduced their stakes in LSPD. Raymond James & Associates lifted its holdings in Lightspeed Commerce by 19.8% during the 1st quarter. Raymond James & Associates now owns 74,890 shares of the company’s stock valued at $2,282,000 after purchasing an additional 12,368 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Lightspeed Commerce by 16.3% during the 1st quarter. Bank of New York Mellon Corp now owns 149,006 shares of the company’s stock valued at $4,539,000 after purchasing an additional 20,838 shares during the last quarter. Citigroup Inc. lifted its holdings in Lightspeed Commerce by 9.2% during the 1st quarter. Citigroup Inc. now owns 19,479 shares of the company’s stock valued at $594,000 after purchasing an additional 1,636 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Lightspeed Commerce by 112.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,299 shares of the company’s stock valued at $40,000 after purchasing an additional 688 shares during the last quarter. Finally, Natixis Advisors L.P. acquired a new stake in Lightspeed Commerce during the 1st quarter valued at $308,000. Institutional investors and hedge funds own 51.86% of the company’s stock.

Lightspeed Commerce Stock Up 2.5 %

The firm has a fifty day simple moving average of $14.12 and a 200-day simple moving average of $15.18. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -1.81 and a beta of 2.28. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.49 and a current ratio of 6.56.

About Lightspeed Commerce

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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.