Morgan Stanley Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $9.50

Lightspeed Commerce (NYSE:LSPD) had its price target lowered by Morgan Stanley from $11.50 to $9.50 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Lightspeed Commerce from $11.00 to $12.00 and gave the stock an “underweight” rating in a research note on Friday, July 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lightspeed Commerce in a research note on Friday, July 17th. Finally, Royal Bank Of Canada boosted their target price on Lightspeed Commerce from $10.00 to $13.00 and gave the stock an “outperform” rating in a report on Monday, August 31st. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Lightspeed Commerce presently has a consensus rating of “Hold” and an average price target of $11.39.

Lightspeed Commerce Price Performance

Shares of NYSE LSPD opened at $9.79 on Monday. Lightspeed Commerce has a fifty-two week low of $7.83 and a fifty-two week high of $13.72. The firm’s 50-day simple moving average is $10.19 and its 200 day simple moving average is $9.69. The company has a quick ratio of 3.45, a current ratio of 3.55 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.35 billion, a P/E ratio of -13.98, a P/E/G ratio of 1.72 and a beta of 1.84.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $322.70 million during the quarter, compared to the consensus estimate of $310.58 million. Lightspeed Commerce had a negative net margin of 7.81% and a positive return on equity of 1.06%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 earnings per share. Equities analysts expect that Lightspeed Commerce will post 0.19 EPS for the current year.

Institutional Trading of Lightspeed Commerce

A number of hedge funds and other institutional investors have recently made changes to their positions in LSPD. Pictet Asset Management Holding SA lifted its stake in Lightspeed Commerce by 5.7% during the first quarter. Pictet Asset Management Holding SA now owns 26,557 shares of the company’s stock valued at $237,000 after purchasing an additional 1,439 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Lightspeed Commerce in the second quarter worth approximately $128,000. ACT Capital Management LLC bought a new position in shares of Lightspeed Commerce in the fourth quarter valued at $151,000. TD Waterhouse Canada Inc. increased its holdings in shares of Lightspeed Commerce by 28.3% in the second quarter. TD Waterhouse Canada Inc. now owns 59,396 shares of the company’s stock valued at $642,000 after buying an additional 13,103 shares in the last quarter. Finally, Amundi acquired a new stake in shares of Lightspeed Commerce during the 1st quarter valued at $121,000. 68.68% of the stock is currently owned by institutional investors.

Lightspeed Commerce Company Profile

Lightspeed Commerce Inc is a Montreal-based commerce technology company that provides cloud-based point-of-sale and business management software for small and mid-sized businesses. Its platform is designed for retailers, restaurants, golf operators and other location-based businesses, helping them manage transactions, inventory, customers and day-to-day operations through integrated digital tools.

Lightspeed’s products include point-of-sale systems, payment processing, inventory and order management, e-commerce capabilities, customer loyalty and marketing tools, analytics, and integrations with accounting and other business applications.