Lightspeed Commerce (TSE:LSPD) Shares Up 0.9% – Here’s What Happened

Lightspeed Commerce Inc. (TSE:LSPD) shares shot up 0.9% on Wednesday . The stock traded as high as C$15.18 and last traded at C$15.16. 578,432 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 695,587 shares. The stock had previously closed at C$15.02.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LSPD. BMO Capital Markets reduced their price objective on Lightspeed Commerce from C$20.00 to C$15.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. CIBC reduced their price objective on Lightspeed Commerce from C$35.00 to C$30.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. ATB Capital cut Lightspeed Commerce from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$26.00 to C$17.00 in a research report on Thursday, March 27th. Cormark reduced their price objective on Lightspeed Commerce from C$24.00 to C$21.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. Finally, Stifel Nicolaus reduced their price objective on Lightspeed Commerce from C$18.00 to C$15.00 and set a “hold” rating for the company in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lightspeed Commerce currently has an average rating of “Hold” and an average target price of C$18.30.

Lightspeed Commerce Stock Performance

The stock has a market capitalization of C$1.65 billion, a P/E ratio of -13.47 and a beta of 2.69. The firm has a 50-day moving average of C$13.62 and a 200 day moving average of C$18.93. The company has a quick ratio of 6.05, a current ratio of 6.10 and a debt-to-equity ratio of 0.83.

Insiders Place Their Bets

In other news, Senior Officer Daniel Robert Micak sold 3,995 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of C$19.53, for a total value of C$78,022.35. Also, Senior Officer Asha Hotchandani (Bakshani) sold 22,489 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of C$15.72, for a total value of C$353,527.08. Corporate insiders own 9.93% of the company’s stock.

Lightspeed Commerce Company Profile

Lightspeed Commerce Inc provides an omni-channel commerce-enabling SaaS platform. Its software platform provides customers with the functionality it needs to engage with consumers, manage their operations, accepts payments, and grow their business. The company sells its platform through a direct sales force in the United States, Canada, Netherlands, Australia, and other countries.