BNS Ahead of the Feb. 3 release of its third-quarter 2022 results, Scotia Capital analyst Paul Steep reduced his Lightspeed Commerce Inc. (LSPD-N, LSPD-T) target to US$74 from US$103 with a “sector outperform” rating. The average is US$71.73.
“We expect LSPD shares to remain highly volatile on a quarterly basis given the ongoing impact of shutdowns and supply chain disruptions,” he said. “Since November, Tech sector valuations have compressed, with high-growth peers trading at 12.3 EV/revenue (calendar 2022), down from 20.5 times on November 5. Key risks and factors for the stock are the potential for lockdowns to slow near-term location growth, the impact of macro supply chain issues on LSPD’s retail clients, and the uptake of LSPD payments in new regions.”