Lightspeed Commerce (NYSE:LSPD) Stock Breaks Above 50-Day Moving Average After Analyst Downgrade

Lightspeed Commerce Inc. (NYSE:LSPD)’s stock price passed above its fifty day moving average during trading on Monday after Truist Financial raised their price target on the stock from $10.00 to $11.00. The stock has a fifty day moving average of $10.34 and traded as high as $10.44. Truist Financial currently has a hold rating on the stock. Lightspeed Commerce shares last traded at $10.3550, with a volume of 575,893 shares traded.

Several other analysts have also recently issued reports on the company. Royal Bank Of Canada increased their price objective on Lightspeed Commerce from $10.00 to $13.00 and gave the company an “outperform” rating in a research note on Monday, August 31st. JPMorgan Chase & Co. upped their price target on Lightspeed Commerce from $11.00 to $12.00 and gave the stock an “underweight” rating in a report on Friday, July 31st. Morgan Stanley cut their price target on Lightspeed Commerce from $11.50 to $9.50 and set an “equal weight” rating on the stock in a report on Monday, September 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lightspeed Commerce in a research report on Thursday, October 15th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Lightspeed Commerce currently has an average rating of “Hold” and a consensus price target of $11.27.

Institutional Investors Weigh In On Lightspeed Commerce

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Louisbourg Investments Inc. grew its stake in shares of Lightspeed Commerce by 17.0% during the third quarter. Louisbourg Investments Inc. now owns 676,164 shares of the company’s stock worth $6,624,000 after purchasing an additional 98,184 shares in the last quarter. Pale Fire Capital SE raised its stake in Lightspeed Commerce by 4.5% in the second quarter. Pale Fire Capital SE now owns 5,773,932 shares of the company’s stock valued at $60,569,000 after buying an additional 249,341 shares in the last quarter. Renaissance Technologies LLC raised its stake in Lightspeed Commerce by 1,221.5% in the first quarter. Renaissance Technologies LLC now owns 406,783 shares of the company’s stock valued at $3,645,000 after buying an additional 376,000 shares in the last quarter. Royal Bank of Canada raised its stake in Lightspeed Commerce by 64.4% in the first quarter. Royal Bank of Canada now owns 2,226,453 shares of the company’s stock valued at $19,950,000 after buying an additional 872,131 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Lightspeed Commerce during the 2nd quarter worth about $540,000. 68.68% of the stock is currently owned by institutional investors and hedge funds.

Lightspeed Commerce Price Performance

The stock has a fifty day simple moving average of $10.34 and a 200-day simple moving average of $9.84. The company has a market capitalization of $1.34 billion, a PE ratio of -21.13, a P/E/G ratio of 1.80 and a beta of 1.85. The company has a current ratio of 3.55, a quick ratio of 3.45 and a debt-to-equity ratio of 0.01.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Lightspeed Commerce had a positive return on equity of 1.06% and a negative net margin of 7.81%. The business had revenue of $323.79 million for the quarter, compared to the consensus estimate of $321.09 million. During the same quarter in the prior year, the business posted $0.16 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts anticipate that Lightspeed Commerce Inc. will post 0.21 earnings per share for the current year.

Lightspeed Commerce Company Profile

Lightspeed Commerce Inc is a cloud-based commerce technology company that provides point-of-sale and business management software for small and midsized businesses. Its platform is designed for retailers, restaurants, hospitality operators and golf businesses, helping them manage sales, payments, inventory, customer relationships and day-to-day operations through integrated digital tools.

Lightspeed’s products include point-of-sale systems, payment processing, e-commerce capabilities, inventory and order management, analytics, accounting integrations, customer loyalty features and tools for managing restaurants and golf courses.