Lightspeed Commerce (NYSE:LSPD) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Lightspeed Commerce (NYSE:LSPD) in a report published on Tuesday morning, MarketBeat reports. The brokerage issued an equal weight rating and a $14.00 target price on the stock.

LSPD has been the subject of a number of other research reports. Stifel Nicolaus raised their price target on Lightspeed Commerce from $18.00 to $20.00 and gave the company a hold rating in a research report on Friday, August 4th. Morgan Stanley dropped their price target on Lightspeed Commerce from $18.00 to $17.00 and set an equal weight rating for the company in a research report on Friday, October 20th. Scotiabank increased their price objective on Lightspeed Commerce from $24.00 to $25.00 and gave the company an outperform rating in a research note on Friday, August 4th. Credit Suisse Group reaffirmed a neutral rating and set a $15.00 price objective on shares of Lightspeed Commerce in a research note on Friday, August 4th. Finally, Barclays decreased their price objective on Lightspeed Commerce from $22.00 to $17.00 and set an overweight rating on the stock in a research note on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $19.17.

Lightspeed Commerce Trading Down 1.5 %

NYSE:LSPD opened at $12.46 on Tuesday. The stock has a fifty day moving average price of $14.57 and a two-hundred day moving average price of $15.11. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -1.85 and a beta of 2.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.53 and a current ratio of 6.63. Lightspeed Commerce has a 1 year low of $12.23 and a 1 year high of $20.12.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings data on Thursday, August 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.09. The firm had revenue of $209.09 million during the quarter, compared to analysts’ expectations of $197.30 million. Lightspeed Commerce had a negative return on equity of 3.94% and a negative net margin of 132.94%. As a group, sell-side analysts anticipate that Lightspeed Commerce will post -0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lightspeed Commerce

Several hedge funds have recently modified their holdings of LSPD. FMR LLC raised its holdings in shares of Lightspeed Commerce by 1,847.9% during the 1st quarter. FMR LLC now owns 4,199,338 shares of the company’s stock valued at $63,836,000 after buying an additional 3,983,753 shares during the period. Royal Bank of Canada raised its holdings in shares of Lightspeed Commerce by 249.8% during the 1st quarter. Royal Bank of Canada now owns 3,280,715 shares of the company’s stock valued at $99,964,000 after buying an additional 2,342,867 shares during the period. Bank of Montreal Can purchased a new stake in shares of Lightspeed Commerce during the 2nd quarter valued at about $35,596,000. Wellington Management Group LLP raised its holdings in shares of Lightspeed Commerce by 212.7% during the 1st quarter. Wellington Management Group LLP now owns 2,478,103 shares of the company’s stock valued at $75,508,000 after buying an additional 1,685,608 shares during the period. Finally, Shannon River Fund Management LLC purchased a new stake in Lightspeed Commerce during the 2nd quarter worth approximately $26,479,000. 51.98% of the stock is currently owned by hedge funds and other institutional investors.

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.