Amid the hope of the central banks slashing their benchmark interest rates and inflation showing signs of easing, the Canadian equity markets bounced back strongly in the fourth quarter. The S&P/TSX Composite Index rose 7.3% during the period. Despite the strong recovery, few Canadian growth stocks are still trading at attractive valuations, making them excellent buys. Meanwhile, here are three cheap growth stocks that I am bullish on.
Lightspeed Commerce
Lightspeed Commerce (TSX:LSPD) offers small- and medium-scale enterprises omnichannel solutions to scale their businesses. Amid the improvement in investor sentiments and its solid second-quarter earnings for fiscal 2024, the company’s stock price rose over 45% in the fourth quarter of 2023. Despite its recent increase, the company is still trading at around 85% discount compared to its 2021 highs. It trades at next-12-month (NTM) price-to-sales and price-to-book multiples of…
