Royal Bank of Canada Increases Position in Lightspeed Commerce Inc. $LSPD

Royal Bank of Canada lifted its position in Lightspeed Commerce Inc. (NYSE:LSPD) by 64.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,226,453 shares of the company’s stock after acquiring an additional 872,131 shares during the period. Royal Bank of Canada’s holdings in Lightspeed Commerce were worth $19,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in Lightspeed Commerce by 151.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,148,959 shares of the company’s stock valued at $18,803,000 after purchasing an additional 1,295,469 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Lightspeed Commerce by 8.1% during the second quarter. Geode Capital Management LLC now owns 78,301 shares of the company’s stock worth $922,000 after purchasing an additional 5,834 shares during the period. Russell Investments Group Ltd. boosted its position in Lightspeed Commerce by 106.4% in the second quarter. Russell Investments Group Ltd. now owns 10,386 shares of the company’s stock valued at $122,000 after buying an additional 5,354 shares during the last quarter. Norges Bank purchased a new stake in Lightspeed Commerce in the second quarter valued at approximately $743,000. Finally, Invesco Ltd. increased its holdings in Lightspeed Commerce by 2.9% in the 2nd quarter. Invesco Ltd. now owns 29,567 shares of the company’s stock worth $346,000 after buying an additional 835 shares during the period. Institutional investors and hedge funds own 68.68% of the company’s stock.

Lightspeed Commerce Trading Down 0.6%

LSPD stock opened at $10.38 on Thursday. Lightspeed Commerce Inc. has a 52-week low of $7.83 and a 52-week high of $13.72. The company has a quick ratio of 4.18, a current ratio of 3.55 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.43 billion, a P/E ratio of -14.82, a PEG ratio of 1.11 and a beta of 1.88. The company’s 50-day simple moving average is $9.98 and its 200-day simple moving average is $9.61.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $322.70 million during the quarter, compared to analysts’ expectations of $310.58 million. Lightspeed Commerce had a positive return on equity of 1.06% and a negative net margin of 7.81%.Lightspeed Commerce’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 EPS. As a group, equities analysts forecast that Lightspeed Commerce Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Truist Financial decreased their price objective on shares of Lightspeed Commerce from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Thursday, May 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lightspeed Commerce in a report on Friday, July 17th. Scotiabank lowered their price target on shares of Lightspeed Commerce from $12.00 to $10.00 and set a “sector perform” rating on the stock in a report on Monday, May 25th. BTIG Research cut their price target on Lightspeed Commerce from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. Finally, Barclays reduced their price objective on Lightspeed Commerce from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Lightspeed Commerce has a consensus rating of “Hold” and a consensus target price of $11.32.

Lightspeed Commerce Company Profile

Lightspeed Commerce Inc is a Canadian technology company that develops cloud-based point-of-sale (POS) and e-commerce software for small and medium-sized businesses across the retail and hospitality sectors. Its integrated platform enables merchants to manage sales, inventory, customer relationships and analytics through a single interface. By combining in-store and online channels, Lightspeed helps businesses streamline operations and improve customer engagement in an increasingly omnichannel marketplace.

The company’s product suite includes POS terminals, payment processing services, inventory management tools, customer loyalty programs and data reporting dashboards.