Lightspeed Commerce (TSE:LSPD) trades down 6.6% after analysts downgrade


Lightspeed Commerce Inc. (EAST: LSPDGet a rating) shares were down 6.6% at midday on Friday after KeyCorp lowered its price target on the stock to C$30.00. KeyCorp currently has a buy rating on the stock. Lightspeed Commerce traded as low as CA$26.25 and last traded at CA$26.26. Approximately 155,221 shares were traded during trading, down 89% from the average daily volume of 1,382,875 shares. The stock had previously closed at C$28.13.

A number of other stock analysts have also recently released reports on the company. Eight Capital restated a “buy” rating and set a price target of C$47.00 on shares of Lightspeed Commerce in a Tuesday, May 10 report. Moffett Nathanson began covering Lightspeed Commerce in a research report on Tuesday, April 5. They set a “buy” rating and a target price of C$50.00 for the company. Truist Financial reduced its target price on Lightspeed Commerce to C$45.00 and set a “buy” rating for the company in a Friday, May 20 research report. Cormark reduced its target price on Lightspeed Commerce from CA$71.00 to CA$60.00 and set a “buy” rating for the company in a Friday, May 20 research report. Finally, BTIG Research reaffirmed a “buy” rating and set a target price of C$60.00 on shares of Lightspeed Commerce in a Thursday, May 19 research report. One equity research analyst rated the stock with a sell rating, one gave a hold rating, sixteen gave a buy rating and one issued a strong buy rating for the company’s stock . According to data from MarketBeat, the stock has a consensus rating of “moderate buy” and an average price target of C$75.89.

In related news, senior officer Michael Desimone sold 1,000 shares of the company in a trade dated Friday, June 24. The stock was sold at an average price of CA$32.47, for a total transaction of CA$32,474.00. As a result of the transaction, the insider now directly owns 11,136 shares of the company, valued at approximately C$361,630.46. Additionally, senior officer Daniel Robert Micak sold 4,855 shares of the company in a trade dated Tuesday, May 24. The shares were sold at an average price of CA$28.60, for a total value of CA$138,853.00. Following the transaction, the insider now directly owns 6,640 shares of the company, valued at C$189,904. Insiders sold a total of 5,894 shares of the company worth $172,568 in the past ninety days.

The company has a debt ratio of 1.78, a quick ratio of 6.29 and a current ratio of 6.60. The company has a 50-day simple moving average of C$28.94 and a 200-day simple moving average of C$34.88. The company has a market capitalization of C$4.10 billion and a PE ratio of -10.37.

Lightspeed Commerce Company Profile (EAST: LSPD)

Lightspeed Commerce Inc provides a software-as-a-service (SaaS) platform enabling commerce for small and medium-sized businesses, retailers, restaurants, and golf course operators in Canada, United States, Australia, Netherlands and abroad. Its SaaS platform allows clients to interact with consumers, manage operations, accept payments, and more.

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