Caley Thistle had suffered only one defeat in their previous 18 matches in all competitions, but they twice had to come from behind to draw 2-2 as third-bottom St Mirren rolled up their sleeves and produced a battling performance.
Buddies were missing five players through suspensions and injuries, but they twice hit the woodwork in the closing stages after former Inverness player Doug Imrie had given them the lead after just 76 seconds at Caledonian Stadium.
Lennon said: "First and foremost it was a terrific performance full of commitment, effort and desire.
"We were forced to make a lot of changes with two players suspended and three others injured but the players who came in deserve praise.
"They are a terrific group to work with, although after getting off to a very good start perhaps we didn't show our true qualities in terms of our ball retention in the first half. But we were always dangerous on the break.
"Then in the second half we dictated the game and it's a very valuable point against a team who are flying high and that's pleasing, although it could just as easily have been three in terms of the opportunities we had."
Inverness manager Terry Butcher was also thrilled with his team's performance.
He said: "I thought it was a hell of a game for the fans and terrific value in terms of entertainment.
"We should charge any neutrals coming to our games more money because we provide marvellous entertainment.
"We were terrific going forward and on chances we could have won. Every time we went forward we looked as if we could score."