The Globe and Mail reports in its Friday, Feb. 2, edition that prior to the Feb. 8 release of Lightspeed Commerce's third quarter earnings, CIBC World Markets analyst Todd Coupland increased his share target to $27 from $24 with a "neutral" recommendation. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $28.34. Mr. Coupland says in a note: "We expect FQ3 year-over-year organic revenue growth of 25.5 per cent, which is aligned with FactSet. Our forecast assumes this will largely be driven by ARPU [average revenue per user] expansion from upselling existing merchants and a rising Payments attach rate. We expect this will be partially offset by macro headwinds and churn among merchants at the low end of the market. To reconsider our 'neutral' rating, we would like to see a path to accelerating subscription growth. When that materializes, we expect it to raise Lightspeed's overall growth, free cash flow and the valuation investors are willing to ascribe to it." The Globe reported on Feb. 4, 2023, that Mr. Coupland had reaffirmed his "neutral" recommendation for Lightspeed Commerce. It was then worth $22.24.