Lightspeed Commerce (NYSE:LSPD) Sets New 52-Week Low – Here’s Why

Shares of Lightspeed Commerce Inc. (NYSE:LSPD) reached a new 52-week low on Monday . The stock traded as low as $7.34 and last traded at $7.40, with a volume of 112660 shares. The stock had previously closed at $7.86.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on LSPD shares. BMO Capital Markets decreased their price objective on shares of Lightspeed Commerce from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, March 27th. Piper Sandler dropped their price target on Lightspeed Commerce from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, March 27th. Barclays decreased their target price on Lightspeed Commerce from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. Scotiabank reduced their target price on Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating for the company in a report on Tuesday, March 25th. Finally, Bank of America dropped their target price on shares of Lightspeed Commerce from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.09.

Lightspeed Commerce Price Performance

The business has a 50-day moving average of $11.90 and a two-hundred day moving average of $14.58. The firm has a market cap of $1.23 billion, a P/E ratio of -10.10, a price-to-earnings-growth ratio of 3.03 and a beta of 2.52. The company has a current ratio of 6.10, a quick ratio of 5.99 and a debt-to-equity ratio of 0.01.

Lightspeed Commerce (NYSE:LSPD) last announced its earnings results on Thursday, February 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.07). Lightspeed Commerce had a positive return on equity of 0.61% and a negative net margin of 11.75%. On average, sell-side analysts anticipate that Lightspeed Commerce Inc. will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

Several institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp increased its stake in Lightspeed Commerce by 156.9% during the 4th quarter. Mackenzie Financial Corp now owns 360,221 shares of the company’s stock valued at $5,487,000 after purchasing an additional 220,000 shares in the last quarter. Toronto Dominion Bank lifted its stake in Lightspeed Commerce by 17.6% during the 4th quarter. Toronto Dominion Bank now owns 20,477 shares of the company’s stock valued at $312,000 after acquiring an additional 3,069 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Lightspeed Commerce by 6.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 122,854 shares of the company’s stock valued at $1,871,000 after purchasing an additional 7,022 shares during the last quarter. Twinbeech Capital LP bought a new position in shares of Lightspeed Commerce during the fourth quarter valued at about $261,000. Finally, Two Sigma Advisers LP grew its position in Lightspeed Commerce by 165.6% in the 4th quarter. Two Sigma Advisers LP now owns 64,800 shares of the company’s stock worth $987,000 after purchasing an additional 40,400 shares in the last quarter. Institutional investors and hedge funds 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.