LSPD price target cut at Jefferies

There are better places to put your money.

That’s the opinion of Jefferies analyst Trevor Williams on Lightspeed Commerce (Lightspeed Commerce Stock Quote, Chart, News, Analyst, Financials NASDAQ:LSPD).

As reported by the Globe and Mail, Williams August 21 cut his price target on LSPD from (US) $22.00 to $20.00.

Shares of Lightspeed fell after the company reported its second quarter results on August 1 in which it posted Adjusted EBITDA of $10.2-million on revenue of $266.1-million, a topline that was up 27% year-over-year.

“This was my first full quarter returning as Lightspeed’s CEO and I am thrilled to see the volume of capabilities we are releasing for our customers,” CEO Dax Dasilva said. “Lightspeed continues to distinguish itself with advanced inventory management and B2B functionality that we believe no other retail platform can match and in hospitality we are preparing to deliver never-before-seen levels of productivity improvement to streamline restaurant operations.”