Should You Exit Lightspeed Commerce (LSPD)? - InvestingChannel

Should You Exit Lightspeed Commerce (LSPD)?

Conestoga Capital Advisors, an asset management company, released its “SMid Cap Growth Strategy” first-quarter 2023 investor letter. A copy of the same can be downloaded here. The Conestoga SMid Cap Growth Composite rose 10.01% net of fees in the first quarter, compared to the Russell 2500 Growth Index’s 6.54% return. Both sector allocation and stock selection contributed positively to the performance of the fund in the quarter. The strategy also benefited from the market rotation. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Conestoga SMid Cap Growth Strategy highlighted stocks like Lightspeed Commerce Inc. (NYSE:LSPD) in the first quarter 2023 investor letter. Based in Montréal, Canada, Lightspeed Commerce Inc. (NYSE:LSPD) provides point-of-sale software to small and midsize businesses. On May 26, 2023, Lightspeed Commerce Inc. (NYSE:LSPD) stock closed at $12.81 per share. One-month return of Lightspeed Commerce Inc. (NYSE:LSPD) was -1.23%, and its shares lost 50.58% of their value over the last 52 weeks. Lightspeed Commerce Inc. (NYSE:LSPD) has a market capitalization of $1.939 billion.

Conestoga SMid Cap Growth Strategy made the following comment about Lightspeed Commerce Inc. (NYSE:LSPD) in its Q1 2023 investor letter:

Lightspeed Commerce Inc. (NYSE:LSPD): LSPD is a leading cloud-based software and payment solutions provider to the retail and hospitality industries. The company’s suite of products brings Enterprise-grade functionality to small and medium-sized businesses, at a fraction of the cost of legacy incumbents. The business has undergone a strategic shift since we purchased it over two years ago. As one of our smallest portfolio holdings, we decided to sell the position to zero and used the proceeds to increase position sizes in existing portfolio holdings in which we have higher conviction.”

U.K. Dividend Aristocrats List: 2023 Rankings by Yield Photo by Clay Banks on Unsplash

Lightspeed Commerce Inc. (NYSE:LSPD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 8 hedge fund portfolios held Lightspeed Commerce Inc. (NYSE:LSPD) at the end of first quarter 2023 which was 16 in the previous quarter.

We discussed Lightspeed Commerce Inc. (NYSE:LSPD) in another article and shared the list of undervalued Canadian stocks to buy. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.

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