Paysign’s (PAYS) Buy Rating Reaffirmed at DA Davidson

Paysign (NASDAQ:PAYS)‘s stock had its “buy” rating restated by DA Davidson in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $9.00 target price on the stock. DA Davidson’s target price would suggest a potential upside of 70.29% from the company’s current price.

A number of other research firms have also issued reports on PAYS. Wall Street Zen lowered Paysign from a “buy” rating to a “hold” rating in a report on Sunday. Weiss Ratings reissued a “hold (c)” rating on shares of Paysign in a research report on Thursday, January 22nd. Finally, Lake Street Capital increased their price objective on Paysign from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Paysign presently has an average rating of “Moderate Buy” and an average target price of $9.42.

Paysign Stock Up 2.6%

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

Paysign (NASDAQ:PAYS) last posted its quarterly earnings data on Tuesday, March 24th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Paysign had a return on equity of 17.81% and a net margin of 9.21%.The firm had revenue of $22.76 million during the quarter, compared to analyst estimates of $21.54 million. Research analysts expect that Paysign will post 0.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Paysign

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

About Paysign

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.