Lightspeed downgraded to Equal Weight from Overweight at Barclays

Barclays downgraded Lightspeed (LSPD) to Equal Weight from Overweight with a price target of $18, down from $20. The firm thinks most of Lightspeed’s benefits of the payment conversions have played out. Software, which was historically the larger part of Lightspeed’s business, has slowed as sales reps focused on selling payments at the expense of software, the analyst tells investors in a research note. Barclays thinks the company could face further challenges near term as growth decelerates into the teens as payment penetration slows and software growth remains relatively muted in a competitive environment.