Stock Analysis & Ideas

What’s Going on at Recently Listed Lightspeed?

Story Highlights

After making its debut on the Toronto Stock Exchange in March 2019, Canada-based Lightspeed was listed on the New York Stock Exchange in September 2020. Let’s learn more about this recently listed company.

In its endeavor to make significant strides and embrace growth, Canada-based Lightspeed POS Inc. (NYSE: LSPD) (TSE: LSPD) has been launching new products, and signing new and expanding existing partnerships. These moves make sense for the company that provides a point-of-sale and E-commerce platform to hospitality, retail, and restaurant businesses. Lightspeed has offices in New York, Ghent, Amsterdam, Ottawa, Toronto, and Montreal.

The company has a dual listing on the Toronto Stock Exchange and New York Stock Exchange. It was listed on the NYSE on September 11, 2020, at almost $400 million, after making its debut on the Toronto Stock Exchange in March 2019.

After the U.S. listing, the stock started rising and reached an all-time high of $130.02 on September 22, 2021. Thereafter, the share price of Lightspeed began falling and hit its lowest point of $15.03 on May 12, 2022.

What Has Lightspeed Been up to Lately?

Recently, Lightspeed and OpenTable expanded their systems integration agreement. Online restaurant reservations platform OpenTable is owned by travel tech firm Booking Holdings (NASDAQ: BKNG).

The systems integration will help restaurants to understand diner spending and behavior better, track revenue as well as get table status updates in real-time, and generate bills automatically.

The Chief Growth Officer for OpenTable, Susan Lee, said, “Our integration partnership with Lightspeed gives restaurants even more tools to help provide exceptional hospitality while protecting their bottom line.”

Further, with the launch of Lightspeed Payments for Golf, Lightspeed has extended its payments technology to the golf industry.

David Hope, General Manager, Golf, said, “Lightspeed Payments will help our customers streamline their online and physical revenue centers under one integrated payments technology while offering built-in reporting and administrative tools right in their POS.”

Lightspeed Commands a Strong Buy Rating

On TipRanks, the stock has a Strong Buy consensus rating based on 12 Buys, one Hold, and one Sell. LSPD’s average price target of $38.12 reflects upside potential of 95.7% from current levels. Shares of the company have lost 76.2% over the past year.

Meanwhile, TipRanks data shows that financial bloggers are 72% Bullish on the stock, compared to the sector average of 64%.

What’s Ahead for Lightspeed

The Montreal-based company is scheduled to release its fiscal first-quarter results before the market opens on August 4. Analysts anticipate Lightspeed to post a loss of $0.12 per share, wider than the year-ago loss of $0.04 per share.

However, since its listing on the NYSE, the company has managed to post narrower-than-expected losses in six of the seven reported quarters. If the trend continues, LSPD stock, which has lost 52.6% year-to-date, could receive a boost.

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