BTIG Research restated their hold rating on shares of PaySign (NASDAQ:PAYS) in a research report sent to investors on Tuesday morning, AnalystRatings.com reports.
“We are reiterating our Neutral rating on PAYS while modestly reducing our estimates for FY19 revenue. Our new estimate for 3Q19 revenue is $10.27mm, down from $10.56mm, while our new estimate for 4Q19 revenue is $10.72mm, down from $11.0mm. Our new estimate for PAYS’ FY19 revenue is $36.88, down from $37.46mm.”,” BTIG Research’s analyst commented.
A number of other equities research analysts also recently weighed in on PAYS. ValuEngine downgraded shares of PaySign from a buy rating to a hold rating in a research note on Thursday, August 1st. LADENBURG THALM/SH SH initiated coverage on shares of PaySign in a research note on Thursday, May 16th. They set a buy rating and a $12.00 price target for the company. Zacks Investment Research raised shares of PaySign from a hold rating to a buy rating and set a $15.00 price target for the company in a research note on Saturday, August 10th. Finally, Canaccord Genuity initiated coverage on shares of PaySign in a research note on Tuesday, July 2nd. They set a buy rating for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $13.00.
PaySign (NASDAQ:PAYS) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.01. The business had revenue of $8.64 million during the quarter, compared to the consensus estimate of $8.48 million. PaySign had a net margin of 13.90% and a return on equity of 66.14%. PaySign’s revenue for the quarter was up 58.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 earnings per share. As a group, equities analysts anticipate that PaySign will post 0.24 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can acquired a new position in PaySign during the second quarter valued at approximately $33,000. Mascoma Wealth Management LLC acquired a new position in PaySign during the second quarter valued at approximately $40,000. Royal Bank of Canada acquired a new position in PaySign during the second quarter valued at approximately $47,000. TRUE Private Wealth Advisors acquired a new position in PaySign during the second quarter valued at approximately $66,000. Finally, Kavar Capital Partners LLC acquired a new position in PaySign during the second quarter valued at approximately $79,000. Hedge funds and other institutional investors own 24.43% of the company’s stock.
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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