The Globe and Mail reports in its Saturday, Feb. 4, edition that CIBC World Markets analyst Todd Coupland has reaffirmed his "neutral" recommendation for Lightspeed Commerce. The Globe's David Leeder writes in the Eye On Equities column that Mr. Coupland trimmed his share target by $7 to $27. Mr. Coupland says in a note: "Lightspeed reported an in-line FQ3 but lowered its outlook. It reduced its revenue growth expectations for FQ4 and F2024 given macro headwinds and elevated churn among merchants at the low end of the market. While this churn is focused on shifting Lightspeed's merchant mix to larger retail and hospitality merchants, it will likely mute new customer adds and overall revenue growth for at least the coming year. Both factors will make it difficult for Lightspeed to reach its own financial targets and outperform peers." The Globe reported on Jan. 13 that Stifel analyst Suthan Sukumar rated Lightspeed "hold," when it was worth $15.87. The Globe reported on Jan. 23 that National Bank Financial analysts Richard Tse and John Shao rated Lightspeed Commerce "outperform." It was then worth $23.51.
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