Lightspeed (TSX:LSPD) Up 227%: Should You Buy This Tech Stock?

2 min read | March 12, 2021 06:16 AM EST | By Shreya Biswas

Lightspeed (TSX:LSPD) Up 227%: Should You Buy This Tech Stock?

Lightspeed POS (TSX:LSPD)

Lightspeed stocks jumped on Thursday after it announced the latest addition to its acquisition portfolio, cloud-focused retail management software firm VendLimited.

Based in Montreal, Lightspeed POS provides Software as a Service (SaaS) platform solutions to small and mid-cap businesses. The company was founded in 2005, but its business really took off amid the coronavirus pandemic as more enterprises embraced online platforms. Lightspeed’s third quarter of fiscal year 2021 saw its net loss fall by about C$ 5.9 million to C$7.1 million, while its total revenue shot up by 79 per cent year-over-year to C$ 57.6 million.

Source: Pixabay

Lightspeed also saw its customer locations expand by more than 115,000 and its Gross Transaction Value (GTV) jump by 48 per cent YoY to C$ 9.1 billion following the acquisition of Upserve and ShopKeep in Q3 FY21.

Stock wise, Lightspeed POS accumulated an average trading volume of over 10 million in the past 10 days. It posts a price-to-book* ratio of 5.538 at the moment.

While Lightspeed share has slipped by about 21 per cent from its 52-week high of C$ 104.98, it still records a growth of nearly 227 per cent for the past one year.

As the pandemic prevails, Lightspeed said in its latest financial outlook that it remains “cautious in the short term” for the last quarter of fiscal 2021.

*as per TMX

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