Lake Street Capital Forecasts Strong Price Appreciation for Paysign (NASDAQ:PAYS) Stock

Paysign (NASDAQ:PAYS - Get Free Report) had its target price raised by Lake Street Capital from $7.00 to $9.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Lake Street Capital's price target would suggest a potential upside of 40.73% from the stock's current price.

A number of other research analysts have also recently commented on the stock. Barrington Research restated an "outperform" rating and issued a $7.00 price target on shares of Paysign in a report on Wednesday, March 26th. LADENBURG THALM/SH SH raised their target price on shares of Paysign from $7.25 to $8.25 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, DA Davidson set a $8.00 price target on shares of Paysign in a research note on Friday, June 13th.

Paysign Price Performance

NASDAQ:PAYS opened at $6.40 on Thursday. The firm has a market capitalization of $346.74 million, a price-to-earnings ratio of 59.58 and a beta of 0.60. The business has a 50 day simple moving average of $3.74 and a 200-day simple moving average of $3.03. Paysign has a 1 year low of $1.80 and a 1 year high of $6.75.

Paysign (NASDAQ:PAYS - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. Paysign had a return on equity of 19.49% and a net margin of 9.55%. The firm had revenue of $18.60 million for the quarter, compared to analysts' expectations of $17.49 million. As a group, analysts expect that Paysign will post 0.21 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Mark Newcomer sold 8,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $5.00, for a total transaction of $40,000.00. Following the sale, the chief executive officer now owns 8,662,886 shares in the company, valued at approximately $43,314,430. The trade was a 0.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel R. Henry acquired 19,800 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were bought at an average price of $3.42 per share, for a total transaction of $67,716.00. Following the acquisition, the director now owns 99,800 shares of the company's stock, valued at approximately $341,316. This represents a 24.75% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 274,000 shares of company stock worth $1,277,877. Insiders own 22.40% of the company's stock.

Hedge Funds Weigh In On Paysign

Hedge funds and other institutional investors have recently bought and sold shares of the business. Topline Capital Management LLC acquired a new position in shares of Paysign in the 4th quarter valued at $16,946,000. Renaissance Technologies LLC increased its stake in shares of Paysign by 11.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,501,622 shares of the company's stock valued at $4,535,000 after purchasing an additional 149,200 shares in the last quarter. 1248 Management LLC purchased a new position in Paysign during the fourth quarter worth approximately $2,778,000. Millennium Management LLC grew its holdings in Paysign by 123.6% in the fourth quarter. Millennium Management LLC now owns 325,334 shares of the company's stock valued at $983,000 after purchasing an additional 179,814 shares during the period. Finally, Northern Trust Corp increased its position in shares of Paysign by 4.5% in the fourth quarter. Northern Trust Corp now owns 274,005 shares of the company's stock valued at $827,000 after buying an additional 11,806 shares in the last quarter. Institutional investors and hedge funds own 25.89% of the company's stock.

Paysign Company Profile

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.

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