In a report released yesterday, Andrew Harte from BTIG maintained a Buy rating on Lightspeed POS Inc (LSPD – Research Report), with a price target of $17.00.
Andrew Harte has given his Buy rating due to a combination of factors impacting Lightspeed POS Inc. Despite the recent reduction in FY25 revenue guidance from 20% to approximately 18%, largely due to macroeconomic challenges such as inflationary pressures and weakened consumer confidence, Harte sees potential in the company’s strategic focus. The maintenance of EBITDA guidance indicates that Lightspeed is prioritizing profitable growth by managing costs effectively.
Moreover, Harte highlights the opportunity for location growth as a key catalyst for the stock. With the stock trading near an all-time low, the upcoming Capital Markets Day presents an opportunity for Lightspeed to demonstrate its ability to expand locations, which is crucial in a competitive POS landscape. This focus on growth potential, despite current market challenges, underpins Harte’s optimistic Buy rating.
In another report released today, Scotiabank also maintained a Buy rating on the stock with a $17.00 price target.
LSPD’s price has also changed moderately for the past six months – from C$18.670 to C$14.270, which is a -23.57% drop .
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