BTIG analysts reiterated a Buy rating on Lightspeed Commerce (LSPD) shares in a note Thursday, raising its price target for the stock to $24 from $20 per share.
The analysts told investors that the bull/bear case analysis remains compelling, highlighting the positive impact the Lightspeed Payments mandate can have on the company's P&L.
"We believe the Lightspeed Payments mandate has been better received by customers than some investors have feared and note that our valuation, which we derive from FY27 estimates (year ended March), continues to have cautious estimates," the analysts wrote.
"LSPD is trading near a 52-week high and has surpassed our prior price target of $20, but we continue to see upside as the company executes on its Lightspeed Payments mandate and shifts its customer base towards higher GTV merchants," they added.
The analysts also stated that consumer spending trends are becoming a more impactful driver of revenue for the company.