BTIG Research reissued their hold rating on shares of PaySign (NASDAQ:PAYS) in a research note published on Monday, AnalystRatings.com reports.
“We believe investor optimism about the turnaround plan is taking hold as the stock has appreciated 39% since the beginning of June 2019. Even with this strong performance, we see further upside potential for the stock. We are increasing our 12-month price target to $11 from $10. This price target assumes an EV/NTM EBITDA multiple of 12x one year from now, similar to the current valuation of peer company AMN Healthcare Services (NYSE:AMN). Our investment rating is OUTPERFORM.”,” BTIG Research’s analyst wrote.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of PaySign from a hold rating to a buy rating and set a $15.00 price objective for the company in a report on Saturday, August 10th. Canaccord Genuity started coverage on shares of PaySign in a report on Tuesday, July 2nd. They set a buy rating for the company. Maxim Group reissued a buy rating and set a $10.00 price objective on shares of PaySign in a report on Wednesday, May 8th. LADENBURG THALM/SH SH started coverage on shares of PaySign in a report on Thursday, May 16th. They set a buy rating and a $12.00 price objective for the company. Finally, ValuEngine cut shares of PaySign from a buy rating to a hold rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $12.25.
PaySign (NASDAQ:PAYS) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. PaySign had a net margin of 13.90% and a return on equity of 66.14%. The firm had revenue of $8.64 million during the quarter, compared to analysts’ expectations of $8.48 million. During the same period in the previous year, the company earned $0.03 earnings per share. The firm’s quarterly revenue was up 58.2% on a year-over-year basis. As a group, analysts predict that PaySign will post 0.29 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PAYS. Bank of Montreal Can purchased a new stake in PaySign during the second quarter valued at approximately $33,000. Mascoma Wealth Management LLC purchased a new stake in PaySign during the second quarter valued at approximately $40,000. TRUE Private Wealth Advisors purchased a new stake in PaySign during the second quarter valued at approximately $66,000. Kavar Capital Partners LLC purchased a new stake in PaySign during the second quarter valued at approximately $79,000. Finally, Strs Ohio purchased a new stake in PaySign during the second quarter valued at approximately $105,000. 11.88% of the stock is owned by hedge funds and other institutional investors.
PaySign, Inc provides prepaid card programs and processing services under the PaySign brand to corporations, government agencies, universities, and other organizations. The company offers various services, including transaction processing, cardholder enrollment, value loading, cardholder account management, reporting, and customer service through PaySign, a proprietary card-processing platform.
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