May 31, 2019 / 5:15 PM / 6 months ago

BUZZ-Newly listed Lightspeed POS jumps on sales beat

** Shares of cloud-based software company up 15.5% at C$27.50 after beating sales estimates in its first quarterly report as a public company

** Says its payments service launched in January was adopted in about 40% of new U.S. retail customer locations in Q4

** CIBC raises PT to C$27 from C$26, says it expects co’s annual revenue growth to be ~50% over the next two years

** 4 of 5 brokerages rate the stock “buy” and 1 “hold”; their median PT is $25.50

** Shares have risen ~26% since IPO in March

Reporting by Shradha Singh in Bengaluru

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