Benchmark starts ‘very undervalued’ Lightspeed with a Buy

As previously reported, Benchmark analyst Mark Palmer initiated coverage of Lightspeed Commerce with a Buy rating and $20 price target. The provider of cloud-based point-of-sale, or POS, e-commerce, and payment solutions for small- and medium-sized businesses in the retail, restaurant, and hospitality spaces is focused on attracting merchants that fit its ideal customer profile, namely sophisticated businesses with complex needs and high sales volumes, the analyst tells investors. Lightspeed’s stock has seen its price decline by almost 39% year-to-date, leaving shares “very undervalued,” the analyst contends.