As previously reported, TD Securities analyst Daniel Chan downgraded Lightspeed to Hold from Buy with a price target of $17.50, down from $25. Although Q3 results looked fine, management remains cautious on the macro backdrop and expects payments penetration to slow, notes the analyst, who contends that the set up for FY25 “looks challenging.” EBITDA margins could face headwinds in FY25 as the company ramps its outbound sales team, the analyst added.
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