Lightspeed Commerce Inc. (NYSE:LSPD) Position Trimmed by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in Lightspeed Commerce Inc. (NYSE:LSPD) by 13.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 77,791 shares of the company’s stock after selling 12,093 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.05% of Lightspeed Commerce worth $1,063,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Westfield Capital Management Co. LP bought a new position in Lightspeed Commerce in the first quarter worth about $34,984,000. Norges Bank bought a new stake in Lightspeed Commerce in the fourth quarter valued at $25,993,000. Azora Capital LP boosted its holdings in shares of Lightspeed Commerce by 133.1% during the fourth quarter. Azora Capital LP now owns 1,579,312 shares of the company’s stock valued at $33,166,000 after acquiring an additional 901,861 shares during the period. NewGen Asset Management Ltd bought a new position in shares of Lightspeed Commerce during the second quarter worth about $9,241,000. Finally, Marshall Wace LLP lifted its position in Lightspeed Commerce by 306.5% in the 2nd quarter. Marshall Wace LLP now owns 807,219 shares of the company’s stock valued at $11,051,000 after purchasing an additional 608,661 shares during the last quarter. 68.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LSPD. TD Securities dropped their price target on shares of Lightspeed Commerce from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Jefferies Financial Group lowered their target price on Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Royal Bank of Canada lowered Lightspeed Commerce from a “moderate buy” rating to a “strong sell” rating in a research report on Thursday, August 15th. BMO Capital Markets raised their price target on Lightspeed Commerce from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Benchmark reiterated a “buy” rating and issued a $20.00 target price on shares of Lightspeed Commerce in a research report on Thursday. One analyst has rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Lightspeed Commerce has a consensus rating of “Hold” and a consensus target price of $18.59.

Lightspeed Commerce Price Performance

LSPD stock opened at $16.76 on Monday. Lightspeed Commerce Inc. has a one year low of $11.01 and a one year high of $21.71. The firm has a 50-day moving average of $13.17 and a two-hundred day moving average of $13.65. The firm has a market capitalization of $2.57 billion, a PE ratio of -15.66, a P/E/G ratio of 8.59 and a beta of 2.32. The company has a current ratio of 6.19, a quick ratio of 6.06 and a debt-to-equity ratio of 0.01.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Lightspeed Commerce had a negative net margin of 15.55% and a negative return on equity of 0.99%. The firm had revenue of $266.10 million during the quarter, compared to analyst estimates of $258.58 million. During the same quarter last year, the business posted ($0.14) EPS. The company’s revenue was up 27.3% on a year-over-year basis. On average, analysts forecast that Lightspeed Commerce Inc. will post 0.05 earnings per share for the current year.

Lightspeed Commerce Company Profile

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.