Lightspeed Commerce (TSX:LSPD)(NYSE:LSPD) shares climbed 10% in early trading on Monday. This came after Lightspeed stock made several positive announcements, as the last week of January came to a close.
What happened?
Lightspeed stock shares climbed 10% on Monday, and 18% from its lowest point last week. This came as the company announced it would be releasing its third-quarter 2022 financial results after markets close on Feb. 2. The “one-stop commerce platform” also announced earlier last week that its “all-new” Lightspeed Restaurant platform would expand out. This comes as the company saw its United States-based customers outperform peers. Same-store sales increased 52% year over year compared to the industry average of 31%, according to Lightspeed.
So what?
It looks like there is some positive momentum for Lightspeed stock after a long time of waiting. The company came crashing down after a short-seller report last September. A tech crash created even more losses for the company, coupled with the announcement the next quarter may be hampered by supply-chain demands.
But confidence seems to be returning. This comes as Lightspeed stock appoints new board members, and analysts continue to weigh in on the stock. It seems everyone agrees the losses are completely overblown. And the recent additions of Nathalie Gaveau and Dale Murray to the board of directors is certainly exciting for expansion. Each has “extensive knowledge” of Europe and Asia-Pacific markets.
Now what?
Analysts continue to give Lightspeed stock a target share price of $117. That’s definitely still below where it was last year, but a 193% increase from where it is today. Analysts predict the company will report a loss of $0.11 earnings per share on Feb. 2.
Now, on the one hand, should Lightspeed show an improvement and not report major losses once more, this stock could run out of control. But if the opposite occurs, we may re-enter a tech crash like we saw this month. That being said, long-term investors may still want to consider Lightspeed stock — especially at these completely undervalued levels
