Market News

Lightspeed to Expand Footprint in Australia and the U.S.

Lightspeed Commerce Inc. (LSPD) has revealed its plans to expand Lightspeed Payments to several locations across Australia and the United States.

Based in Montreal, Canada, Lightspeed Commerce is a one-stop e-commerce software provider for merchants around the world. Lightspeed Payments is a powerful and easy-to-use integrated payment processing solution helping merchants globally to run their businesses.

Notably, LSPD shares have jumped 224% over the past year. (See Lightspeed stock charts on TipRanks)

The company is focused on growing its financial services footprint internationally and has recently launched in North America and Europe, and the Middle East & Africa (EMEA) regions.

Going forward, Lightspeed Payments will be available in tens of thousands of additional customer locations in Australia and the United States. Furthermore, the company plans to launch additional retail customer locations in Australia and the United Kingdom by the end of the calendar year.

Lightspeed President, JP Chauvet, commented, “The global launch of Lightspeed Payments is just the beginning. Through the depth and breadth of our global commerce solutions and domain expertise, Lightspeed is in a favorable position to expand financial service solutions with stronger, more innovative customer experiences.”

On November 1, CIBC analyst Todd Coupland decreased the price target on Lightspeed to C$190 (52.15% upside potential) from C$195, while reiterating a Buy rating.

Overall, the stock has a Moderate Buy consensus rating based on 10 Buys, 2 Holds and 1 Sell. At the time of writing, the average Lightspeed price target was $120.26, which implies a 19% upside potential from current levels.

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