9 High Growth Canadian Stocks to Buy

3. Lightspeed Commerce Inc. (NYSE:LSPD)

5-year Revenue Growth: 54.93%

Number of Hedge Fund Holders: 14

Lightspeed Commerce Inc. (NYSE:LSPD) is one of the high-growth Canadian stocks to buy. In a report released on January 12, Barclays analyst Raimo Lenschow maintained a Hold rating on the stock, setting a price target of $14.00. Looking ahead, the company’s next-quarter revenue is forecast at $311.29 million, with estimates ranging from $303.30 million to $317.20 million, compared with $316.28 million reported in the prior quarter. Over the past 12 months, Lightspeed has beaten sales expectations intermittently, while its performance over the last calendar year has broadly tracked in line with the overall industry.

During its second-quarter fiscal 2026 earnings call, Lightspeed Commerce Inc. (NYSE:LSPD) reported solid operating momentum, delivering 15% year-over-year revenue growth. Software revenue increased 9% year over year, while transaction-based revenue rose a stronger 17%, reflecting continued expansion in payments and commerce volumes. In particular, software revenue across North American retail and European hospitality markets climbed 20% year over year, supported by 15% growth in gross transaction volume and an improvement in payments penetration to 46%, up from 41% in the prior year.

The company also continues to invest in product innovation, introducing several AI-powered tools such as AI showroom features and AI-generated product descriptions. These enhancements are designed to strengthen the company’s omnichannel capabilities, improve merchant sales productivity, and support longer-term growth as Lightspeed Commerce Inc. (NYSE:LSPD) integrates artificial intelligence more deeply into its commerce platform.

Based in Montreal, Canada, Lightspeed Commerce Inc. (NYSE:LSPD) designs point-of-sale and e-commerce software solutions that serve retailers and hospitality businesses worldwide. Founded in 2005, the company built its platform to help merchants manage in-store and online operations through a unified, cloud-based system.