Lightspeed Commerce (NYSE:LSPD) Stock Price Down 6.3% – Here’s Why

Shares of Lightspeed Commerce Inc. (NYSE:LSPD) traded down 6.3% during mid-day trading on Monday . The company traded as low as $17.55 and last traded at $17.61. 432,827 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 1,094,602 shares. The stock had previously closed at $18.80.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LSPD. BTIG Research reissued a “buy” rating and set a $21.00 target price on shares of Lightspeed Commerce in a research note on Thursday, September 26th. Royal Bank of Canada raised Lightspeed Commerce from a “strong sell” rating to a “moderate 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. Piper Sandler lifted their target price on Lightspeed Commerce from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. increased their target price on Lightspeed Commerce from $20.00 to $26.00 in a research report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.88.

Lightspeed Commerce Price Performance

The firm has a market capitalization of $2.64 billion, a P/E ratio of -19.79 and a beta of 2.35. The stock’s 50 day simple moving average is $16.37 and its 200 day simple moving average is $14.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.94 and a current ratio of 6.08.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank increased its position in shares of Lightspeed Commerce by 102.8% in the 2nd quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock valued at $94,000 after acquiring an additional 3,482 shares during the period. Headlands Technologies LLC purchased a new position in shares of Lightspeed Commerce in the 2nd quarter valued at about $181,000. Aigen Investment Management LP acquired a new position in Lightspeed Commerce in the 3rd quarter worth about $225,000. Polar Asset Management Partners Inc. purchased a new position in Lightspeed Commerce during the third quarter worth approximately $412,000. Finally, Algert Global LLC purchased a new stake in shares of Lightspeed Commerce in the third quarter valued at approximately $448,000. Hedge funds and other institutional investors own 68.68% of the company’s stock.

Lightspeed Commerce Company Profile

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.