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    Lightspeed Commerce (TSX:LSPD) Expands Klaviyo Partnership, Is The Stock Still Cheap?

    Simply Wall St·07/10/2026 06:30:39
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    Lightspeed Commerce (TSX:LSPD) stock has been in focus after the company expanded its Klaviyo partnership and set a date to report first quarter 2027 results, drawing fresh attention to its retail commerce platform.

    See our latest analysis for Lightspeed Commerce.

    Against this backdrop, Lightspeed Commerce’s recent share price moves have been mixed, with a 23.55% 90 day share price return and a 9.04% 30 day share price return, in contrast with a year to date share price return that is down 10.29% and a 5 year total shareholder return that is down 85.45%. This suggests that short term momentum has picked up while long term holders have faced substantial declines.

    If you are looking to see what else is moving in software and commerce related technology, it could be a good moment to check out 52 AI infrastructure stocks.

    Bulls see Lightspeed Commerce’s recent partnership news and earnings expectations as signs the selloff has gone too far, while bears point to ongoing losses and steep long term declines. Which side do current valuation signals lean toward?

    Most Popular Narrative: 18% Undervalued

    The most followed narrative currently places Lightspeed Commerce’s fair value at CA$17.57 versus a last close of CA$14.48, framing the recent rebound against a longer history of losses and analyst model resets.

    Accelerating adoption of digital payments and cloud-based platforms in retail and hospitality, core to Lightspeed's growth strategy, continues to boost subscription and transaction-based revenue, supporting an expanding total addressable market and steady revenue growth. Consistent product innovation, including AI-powered insights and deeper e-commerce integration, drives higher software ARPU, increases upsell opportunities, and reinforces customer retention, positively impacting future revenue and gross margin.

    Read the complete narrative.

    Want to see why this narrative still supports a higher fair value? It blends steady top line expansion, margin rebuild, and a punchy future earnings multiple. Curious which assumptions matter most for that CA$17.57 figure? The full story connects those moving parts into one pricing blueprint.

    Result: Fair Value of CA$17.57 (UNDERVALUED)

    Have a read of the narrative in full and understand what's behind the forecasts.

    However, investors still need to weigh risks such as tougher competition from larger payments and POS players, as well as the execution challenge of scaling a mostly unproven outbound sales force.

    Find out about the key risks to this Lightspeed Commerce narrative.

    Next Steps

    If the mixed sentiment around Lightspeed Commerce resonates with you, this is a good moment to review the data yourself and stress test the assumptions. To see which potential upsides our work has highlighted, take a closer look at the 3 key rewards.

    Looking for more investment ideas beyond Lightspeed Commerce?

    If this look at Lightspeed Commerce has sharpened your thinking, do not stop here, fresh ideas elsewhere could make a real difference to your portfolio.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.