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Truist Securities analyst Andrew Jeffrey advised investors in a recent communication to consider accumulating Lightspeed Commerce (NYSE:LSPD) stock following its “materially overdone” post-earnings selloff.
The payment system firm experienced a significant decline in its stock price on Thursday, reflecting a cautious outlook on near-term prospects due to a still-uncertain macroeconomic environment and the pace of adoption of its unified payments platform in international markets.
Despite the cautious tone, the company reported fiscal Q3 earnings and revenue that exceeded Wall Street expectations and raised the lower end of its fiscal 2024 revenue guidance.
Andrew Jeffrey’s note indicated his belief that Lightspeed (LSPD) will achieve “at-least-in-line” 2024 revenue and experience accelerating organic revenue growth in 2025. This growth is expected to be driven by the success of its Unified Payments platform and a renewed focus on software and customer growth.
LSPD showed a 1.2% increase in Friday morning trading.
Jeffrey sustained his Buy rating on LSPD, which differs from the SA Quant system rating of Hold and aligns with the average sell-side analyst rating of Hold.
Exploring the Lightspeed Commerce Situation
