Lightspeed Commerce (NYSE:LSPD) Now Covered by Analysts at Bank of America

Equities researchers at Bank of America started coverage on shares of Lightspeed Commerce (NYSE:LSPD) in a research note issued to investors on Tuesday. The brokerage set an “underperform” rating and a $10.00 price target on the stock. Bank of America‘s target price would indicate a potential upside of 13.52% from the stock’s current price.

Several other equities analysts have also commented on LSPD. Royal Bank Of Canada lowered their price objective on Lightspeed Commerce from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, February 6th. Zacks Research lowered shares of Lightspeed Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Barclays lowered their price target on shares of Lightspeed Commerce from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 21st. BTIG Research dropped their price objective on shares of Lightspeed Commerce from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lightspeed Commerce in a report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Lightspeed Commerce currently has an average rating of “Hold” and an average price target of $13.09.

Lightspeed Commerce Stock Down 1.6%

Shares of NYSE LSPD traded down $0.14 during mid-day trading on Tuesday, hitting $8.81. 207,223 shares of the stock traded hands, compared to its average volume of 908,283. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.44 and a current ratio of 4.52. Lightspeed Commerce has a 52 week low of $8.36 and a 52 week high of $14.34. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -1.90, a PEG ratio of 1.73 and a beta of 1.92. The stock has a fifty day moving average price of $9.12 and a 200-day moving average price of $10.44.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LSPD. Goldman Sachs Group Inc. boosted its holdings in Lightspeed Commerce by 151.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,148,959 shares of the company’s stock worth $18,803,000 after purchasing an additional 1,295,469 shares during the last quarter. Geode Capital Management LLC raised its stake in Lightspeed Commerce by 8.1% during the 2nd quarter. Geode Capital Management LLC now owns 78,301 shares of the company’s stock valued at $922,000 after buying an additional 5,834 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Lightspeed Commerce by 106.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 10,386 shares of the company’s stock valued at $122,000 after buying an additional 5,354 shares during the period. Norges Bank purchased a new position in shares of Lightspeed Commerce in the 2nd quarter worth $743,000. Finally, Invesco Ltd. boosted its stake in shares of Lightspeed Commerce by 2.9% in the 2nd quarter. Invesco Ltd. now owns 29,567 shares of the company’s stock worth $346,000 after buying an additional 835 shares during the last quarter. 68.68% of the stock is owned by hedge funds and other institutional investors.

About Lightspeed Commerce

Lightspeed Commerce Inc is a Canadian technology company that develops cloud-based point-of-sale (POS) and e-commerce software for small and medium-sized businesses across the retail and hospitality sectors. Its integrated platform enables merchants to manage sales, inventory, customer relationships and analytics through a single interface. By combining in-store and online channels, Lightspeed helps businesses streamline operations and improve customer engagement in an increasingly omnichannel marketplace.

The company’s product suite includes POS terminals, payment processing services, inventory management tools, customer loyalty programs and data reporting dashboards.