Truist has raised the price target for Lightspeed (LSPD) from $11 to $12 with a Hold rating. The firm expects stablecoins to be a key topic in upcoming earnings calls. Analysts predict an average target price of $13.11 with a high estimate of $20.53 and a low estimate of $10.00, implying a 6.75% upside from the current price. The average brokerage recommendation is 2.9, indicating a "Hold" status.
Truist Financial has increased its price target for Lightspeed (LSPD) to $12 from $11, while maintaining a Hold rating on the stock. This adjustment comes as part of a broader analysis previewing the second-quarter earnings for the FinTech sector [1].
Despite the sector's overall solid outlook, FinTech stocks, including LSPD, have shown underperformance with a modest 2% increase year-to-date compared to the S&P 500's 6% rise [1]. Truist anticipates that discussions about stablecoins will be a focal point in the upcoming earnings calls, with management teams expected to share their perspectives on the potential impact of stablecoins on the industry [1].
Analysts predict an average target price of $13.11 for LSPD, with a high estimate of $20.53 and a low estimate of $10.00, implying a 6.75% upside from the current price of $12.28 [2]. The average brokerage recommendation is 2.9, indicating a "Hold" status [2].
Lightspeed Commerce Inc (LSPD) exceeded $1 billion in annual revenue for the first time and saw a substantial increase in adjusted EBITDA from $1.3 million to $53.7 million, reflecting improved profitability [3]. However, the company also experienced a decline in cash position due to significant share buybacks and merchant cash advances [3].
In conclusion, Truist's revised price target for LSPD reflects the firm's expectations for the upcoming earnings season and the potential impact of stablecoins on the FinTech sector. Investors should closely monitor the earnings calls for further insights into the company's performance and future prospects.
References:
[1] https://www.tipranks.com/news/the-fly/lightspeed-price-target-raised-to-12-from-11-at-truist-thefly
[2] https://www.gurufocus.com/news/2984094/lightspeed-lspd-price-target-raised-by-truist-ahead-of-q2-earnings-lspd-stock-news
[3] https://www.tipranks.com/stocks/tse:lspd/forecast
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