Lightspeed POS Inc.: 4Q26 Results: Growth Engines Revving; Shares Need Growth or Profitability Gear Shift

研报英文原文证据摘录

Lightspeed POS Inc.: 4Q26 Results: Growth Engines Revving; Shares Need Growth or Profitability Gear Shift

Update

May 21, 2026 05:05 PM GMT

Morgan Stanley & Co. LLCMLightspeed POS Inc. | North America Josh Baer, CFA

Equity Analyst

4Q26 Results: Growth Engines Josh.Baer@morganstanley.comKeith Weiss, CFA +1 212 761-4223

Keith.Weiss@morganstanley.com +1 212 761-4149

Revving; Shares Need Growth Kathleen A Keyser

Research Associate

Katie.Keyser@morganstanley.com +1 212 761-0518

or Profitability Gear Shift

Lightspeed POS Inc. (LSPD.N, LSPD UN)

What’s Changed Software | United States of America

Lightspeed POS Inc. (LSPD.N) From To Stock Rating Equal-weight

Price Target $13.50 $11.50 Industry View Attractive

Price target $11.50

Shr price, close (May 20, 2026) $8.96

Mkt cap, curr (mm) $1,616

Reaction to earnings 52-Week Range $14.27-8.37

Unchanged Modest upside Largely unchanged Fiscal Year Ending 03/26 03/27e 03/28e 03/29e

Impact to our thesis Financial results versus consensus Direction of next 12-month

EPS ($)** 0.45 0.56 0.72 0.95

consensus EPS

Prior EPS ($)** 0.42 0.62 0.75 -

Source: Company data, Morgan Stanley Research P/E NM NM 15.7 9.7

EPS ($)§ 0.47 0.68 0.89 -

Q4 beat supported by growth engine acceleration, but FY27/ Div yld (%) - - - -

FY28 targets essentially unchanged on an organic basis. Stock Unlessframeworkotherwise noted, all metrics are based on Morgan Stanley ModelWare

screens cheap, but mid-single-digit software growth, uncertain **§ ==ConsensusBased on consensusdata is providedmethodologyby Refinitiv Estimates

e = Morgan Stanley Research estimates

payments attach & limited FCF ex-SBC keep re-rating dependent Quarterly EPS ($)

on durable growth + clear earnings/FCF inflection. EW 2027e 2027e 2028e 2028e Quarter 2026 Prior Current Prior Current