DA Davidson Reiterates Buy Rating for Paysign (NASDAQ:PAYS)

Key Points

• DA Davidson reiterated a Buy rating on Paysign with a $9.00 price target, implying roughly a 70% upside from the prior close, and the stock's consensus from analysts is a "Moderate Buy" with a $9.42 average target (3 Buys, 1 Hold).
• Shares traded around $5.29 (market cap ~$291M) with a 52-week range of $1.80–$8.88 and a trailing P/E of 40.98, while the 50- and 200-day moving averages sit at $3.77 and $4.82 respectively.
• In the latest quarter Paysign reported $0.02 EPS (missing estimates by $0.01) but beat revenue expectations at $22.76M, and institutional ownership stands at about 25.9% with firms like Goldman Sachs increasing their stakes.

Paysign (NASDAQ:PAYS - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at DA Davidson in a note issued to investors on Thursday,Benzinga reports. They currently have a $9.00 price target on the stock. DA Davidson's target price would suggest a potential upside of 70.29% from the stock's previous close.

A number of other research firms also recently commented on PAYS. Lake Street Capital boosted their price objective on Paysign from $10.00 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Paysign in a report on Thursday, January 22nd. Finally, Wall Street Zen cut shares of Paysign from a "buy" rating to a "hold" rating in a research report on Sunday. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.42.

Paysign Price Performance

Shares of NASDAQ PAYS traded up $0.14 during mid-day trading on Thursday, reaching $5.29. 1,483,651 shares of the company traded hands, compared to its average volume of 566,129. Paysign has a fifty-two week low of $1.80 and a fifty-two week high of $8.88. The firm has a market cap of $290.89 million, a PE ratio of 40.98 and a beta of 0.99. The stock has a fifty day simple moving average of $3.77 and a 200-day simple moving average of $4.82.

Paysign (NASDAQ:PAYS - Get Free Report) last released its earnings results on Tuesday, March 24th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). The firm had revenue of $22.76 million during the quarter, compared to analyst estimates of $21.54 million. Paysign had a return on equity of 17.81% and a net margin of 9.21%. As a group, analysts predict that Paysign will post 0.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Paysign

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its holdings in shares of Paysign by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 258,334 shares of the company's stock worth $548,000 after acquiring an additional 17,466 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Paysign during the first quarter valued at $51,000. Rhumbline Advisers boosted its position in shares of Paysign by 5.2% in the 1st quarter. Rhumbline Advisers now owns 46,587 shares of the company's stock valued at $99,000 after purchasing an additional 2,303 shares during the period. Geode Capital Management LLC boosted its position in shares of Paysign by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 788,500 shares of the company's stock valued at $5,679,000 after purchasing an additional 12,490 shares during the period. Finally, CreativeOne Wealth LLC purchased a new position in Paysign in the 2nd quarter worth about $182,000. Institutional investors and hedge funds own 25.89% of the company's stock.

Paysign Company Profile

Paysign, Inc NASDAQ: PAYS is a U.S.-based financial technology company specializing in prepaid payment solutions. Through its cloud-based platform, the company enables corporations, government agencies and payroll providers to issue and manage stored-value cards, digital wallets and disbursement programs. Paysign's offerings span gift and incentive cards, payroll and earned-wage access cards, government benefit distribution, tax refund solutions and health savings account disbursements.

The company's flagship Paysign Experience Platform provides configurable card programs with real-time transaction reporting, fraud monitoring and regulatory compliance tools.

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