Lightspeed price target lowered to $15 from $20 at National Bank

National Bank lowered the firm’s price target on Lightspeed to $15 from $20 and keeps a Sector Perform rating on the shares. Given the reaffirmation of the guidance as part of the company’s recent cost reductions announcement, the firm expects Lightspeed to report in-line Q4 results, the analyst tells investors in a research note. The firm adds that the company’s move upmarket to target larger customers has the potential to lower the current take rate as those customers typically demand volume discounts on payment fees, with the offset to this being an uptick in ARPU.