Lightspeed Commerce (NYSE:LSPD) Given New $20.00 Price Target at Scotiabank

Lightspeed Commerce (NYSE:LSPDFree Report) had its target price cut by Scotiabank from $22.00 to $20.00 in a research report released on Friday, MarketBeat.com reports. They currently have a sector outperform rating on the stock.

Several other research firms have also weighed in on LSPD. TD Securities lowered shares of Lightspeed Commerce from a buy rating to a hold rating and dropped their price objective for the stock from $25.00 to $17.50 in a research note on Friday. Piper Sandler decreased their target price on shares of Lightspeed Commerce from $20.00 to $18.00 and set a neutral rating for the company in a research report on Friday. Redburn Atlantic initiated coverage on shares of Lightspeed Commerce in a research report on Wednesday, December 6th. They issued a neutral rating and a $17.00 target price for the company. BTIG Research upped their target price on shares of Lightspeed Commerce from $20.00 to $24.00 and gave the stock a buy rating in a research report on Thursday, December 28th. Finally, JPMorgan Chase & Co. upgraded shares of Lightspeed Commerce from an underweight rating to a neutral rating and set a $19.00 target price for the company in a research report on Monday, December 18th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $18.87.

Check Out Our Latest Report on LSPD

Lightspeed Commerce Stock Performance

Shares of Lightspeed Commerce stock opened at $13.83 on Friday. The firm has a market cap of $2.11 billion, a PE ratio of -10.24 and a beta of 2.52. The firm’s 50-day simple moving average is $18.49 and its 200-day simple moving average is $16.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.09 and a current ratio of 6.21. Lightspeed Commerce has a 1 year low of $12.23 and a 1 year high of $21.71.

Institutional Investors Weigh In On Lightspeed Commerce

Large investors have recently bought and sold shares of the business. Raymond James & Associates lifted its position in Lightspeed Commerce by 19.8% during the 1st quarter. Raymond James & Associates now owns 74,890 shares of the company’s stock worth $2,282,000 after acquiring an additional 12,368 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Lightspeed Commerce by 16.3% during the 1st quarter. Bank of New York Mellon Corp now owns 149,006 shares of the company’s stock worth $4,539,000 after acquiring an additional 20,838 shares during the last quarter. Citigroup Inc. lifted its position in Lightspeed Commerce by 9.2% during the 1st quarter. Citigroup Inc. now owns 19,479 shares of the company’s stock worth $594,000 after acquiring an additional 1,636 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Lightspeed Commerce by 112.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,299 shares of the company’s stock worth $40,000 after acquiring an additional 688 shares during the last quarter. Finally, Natixis Advisors L.P. acquired a new position in Lightspeed Commerce during the 1st quarter worth $308,000. 51.98% of the stock is currently 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.

Further Reading

Analyst Recommendations for Lightspeed Commerce (NYSE:LSPD)

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