Wells Fargo & Company Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $17.00

Lightspeed Commerce (NYSE:LSPDFree Report) had its target price decreased by Wells Fargo & Company from $20.00 to $17.00 in a report issued on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

LSPD has been the subject of a number of other reports. JPMorgan Chase & Co. raised shares of Lightspeed Commerce from an underweight rating to a neutral rating and set a $19.00 price objective for the company in a research report on Monday, December 18th. Piper Sandler cut their price objective on Lightspeed Commerce from $20.00 to $18.00 and set a neutral rating on the stock in a research report on Friday. TD Securities cut Lightspeed Commerce from a buy rating to a hold rating and lowered their target price for the stock from $25.00 to $17.50 in a research note on Friday. Redburn Atlantic began coverage on shares of Lightspeed Commerce in a research report on Wednesday, December 6th. They set a neutral rating and a $17.00 price target for the company. Finally, National Bankshares dropped their target price on shares of Lightspeed Commerce from $23.00 to $20.00 and set an outperform rating on the stock in a research note on Thursday, October 26th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $18.87.

Check Out Our Latest Stock Report on LSPD

Lightspeed Commerce Price Performance

Shares of LSPD opened at $14.07 on Friday. The company has a quick ratio of 6.29, a current ratio of 6.41 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a 12-month low of $12.23 and a 12-month high of $21.71. The stock has a market cap of $2.15 billion, a P/E ratio of -10.42 and a beta of 2.52. The business’s fifty day moving average is $18.55 and its 200 day moving average is $16.41.

Institutional Trading of Lightspeed Commerce

A number of hedge funds have recently made changes to their positions in LSPD. PNC Financial Services Group Inc. lifted its stake in Lightspeed Commerce by 112.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,299 shares of the company’s stock worth $40,000 after purchasing an additional 688 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Lightspeed Commerce by 2,570.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,006 shares of the company’s stock valued at $56,000 after purchasing an additional 3,856 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Lightspeed Commerce by 53.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,553 shares of the company’s stock valued at $64,000 after purchasing an additional 1,582 shares during the last quarter. Captrust Financial Advisors increased its holdings in Lightspeed Commerce by 24.1% in the 2nd quarter. Captrust Financial Advisors now owns 2,975 shares of the company’s stock worth $66,000 after buying an additional 577 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in Lightspeed Commerce during the third quarter valued at approximately $67,000. 51.98% of the stock is owned by institutional investors.

About Lightspeed Commerce

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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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Analyst Recommendations for Lightspeed Commerce (NYSE:LSPD)

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