2023-03-07 10:54:47 ET
- Lightspeed ( NYSE: LSPD ) shares fell nearly 3% on Tuesday as investment firm MoffettNathanson downgraded the company on worries over increased competition.
- Analyst Eugene Simuni lowered his rating Lightspeed ( LSPD ) to market perform from outperform and cut the per-share price target to $17 from $23, noting that the competition could "preclude Lightspeed from reaccelerating [gross transaction value] growth even when macro pressures recede."
- Last month, Credit Suisse also downgraded the stock, citing management's prospects for macroeconomic pressures poised to weigh on its customers.
- In March, Lightspeed Commerce ( LSPD ) announced COO Brandon Nussey was stepping down from his position .
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Lightspeed sinks as MoffettNathanson downgrades on worries over competition