Lightspeed price target lowered to $21 from $24 at BTIG

BTIG lowered the firm’s price target on Lightspeed to $21 from $24 and keeps a Buy rating on the shares. The company’s fiscal Q3 results were solid, beating Street estimates across the board, albeit to a lesser extent than the first half of 2024, the analyst tells investors in a research note. The firm says Lightspeed Payments penetration is on pace without the heightened churn that management originally expected. BTIG, however, tempered expectations for the pace to which peak payments adoption will be achieved.