Lightspeed Commerce (NYSE:LSPD – Free Report) had its target price lowered by Scotiabank from $22.00 to $20.00 in a report issued on Friday morning, Marketbeat.com reports. The brokerage currently has a sector outperform rating on the stock.
LSPD has been the subject of a number of other research reports. Barclays dropped their price objective on shares of Lightspeed Commerce from $23.00 to $20.00 and set an overweight rating for the company in a research note on Friday. National Bankshares cut shares of Lightspeed Commerce from an outperform rating to a sector perform rating and dropped their price objective for the company from $25.00 to $20.00 in a research note on Friday. Royal Bank of Canada restated an outperform rating and issued a $21.00 price objective on shares of Lightspeed Commerce in a research note on Tuesday, November 7th. Morgan Stanley dropped their target price on shares of Lightspeed Commerce from $18.00 to $17.00 and set an equal weight rating for the company in a research report on Friday, October 20th. Finally, UBS Group initiated coverage on shares of Lightspeed Commerce in a research report on Friday, October 20th. They set a neutral rating and a $16.00 target price for the company. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $18.87.
Lightspeed Commerce Price Performance
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. National Bank of Canada FI grew its holdings in Lightspeed Commerce by 9.3% during the third quarter. National Bank of Canada FI now owns 1,625,814 shares of the company’s stock valued at $22,484,000 after purchasing an additional 137,797 shares during the period. Bank of Nova Scotia acquired a new position in shares of Lightspeed Commerce in the second quarter valued at approximately $314,000. North Peak Capital Management LLC acquired a new position in shares of Lightspeed Commerce in the second quarter valued at approximately $25,578,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Lightspeed Commerce by 15.2% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,440 shares of the company’s stock valued at $143,000 after buying an additional 1,111 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in shares of Lightspeed Commerce by 4.9% in the third quarter. CIBC Asset Management Inc now owns 146,430 shares of the company’s stock valued at $2,063,000 after buying an additional 6,886 shares during the period. Institutional investors and hedge funds own 51.98% 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.
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