Lightspeed Commerce (NYSE:LSPD) Rating Lowered to “Equal Weight” at Barclays

Barclays downgraded shares of Lightspeed Commerce (NYSE:LSPD) from an overweight rating to an equal weight rating in a research note issued to investors on Friday, Marketbeat reports. They currently have $18.00 price objective on the stock, down from their previous price objective of $20.00.

Other analysts have also recently issued research reports about the company. Benchmark upped their price objective on Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, November 8th. BMO Capital Markets upped their price target on shares of Lightspeed Commerce from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Royal Bank of Canada raised shares of Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a report on Friday, November 8th. BTIG Research reaffirmed a “buy” rating and set a $21.00 target price on shares of Lightspeed Commerce in a report on Thursday, September 26th. Finally, Piper Sandler lifted their price target on shares of Lightspeed Commerce from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.93.

Lightspeed Commerce Stock Performance

Shares of LSPD stock opened at $14.80 on Friday. The company has a quick ratio of 5.94, a current ratio of 6.08 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average price of $16.66 and a 200-day moving average price of $14.89. Lightspeed Commerce has a 52 week low of $11.01 and a 52 week high of $20.09. The firm has a market capitalization of $2.25 billion, a PE ratio of -16.63 and a beta of 2.44.

Lightspeed Commerce (NYSE:LSPD) last posted its earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $277.18 million during the quarter, compared to the consensus estimate of $273.90 million. Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%. As a group, equities research analysts expect that Lightspeed Commerce will post -0.02 earnings per share for the current year.

Institutional Trading of Lightspeed Commerce

Several hedge funds have recently bought and sold shares of LSPD. Harbor Capital Advisors Inc. grew its position in shares of Lightspeed Commerce by 1.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 229,612 shares of the company’s stock valued at $3,497,000 after purchasing an additional 2,231 shares in the last quarter. Barclays PLC boosted its stake in Lightspeed Commerce by 8,355.1% during the third quarter. Barclays PLC now owns 29,170 shares of the company’s stock valued at $481,000 after buying an additional 28,825 shares during the last quarter. Toronto Dominion Bank grew its holdings in Lightspeed Commerce by 153.4% during the 3rd quarter. Toronto Dominion Bank now owns 17,408 shares of the company’s stock valued at $287,000 after buying an additional 10,538 shares in the last quarter. Geode Capital Management LLC increased its stake in Lightspeed Commerce by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 64,920 shares of the company’s stock worth $1,075,000 after acquiring an additional 4,629 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Lightspeed Commerce during the 3rd quarter worth approximately $699,000. Hedge funds and other institutional investors own 68.68% of the company’s stock.

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.