VeriFone Systems Price Target Lowered to $26.00 at UBS AG (PAY)
Stock analysts at UBS AG reduced their target price on shares of VeriFone Systems (NYSE:PAY) from $39.00 to $26.00 in a report issued on Thursday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. UBS AG’s target price points to a potential upside of 26.64% from the stock’s previous close.
VeriFone Systems (NYSE:PAY) traded up 0.69% on Thursday, hitting $20.53. The stock had a trading volume of 2,063,815 shares. VeriFone Systems has a 52-week low of $15.34 and a 52-week high of $36.13. The stock has a 50-day moving average of $18.75 and a 200-day moving average of $20.90. The company has a market cap of $2.228 billion and a P/E ratio of 122.10.
VeriFone Systems (NYSE:PAY) last issued its quarterly earnings data on Wednesday, June 5th. The company reported $0.42 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.47 by $0.05. The company had revenue of $430.00 million for the quarter, compared to the consensus estimate of $440.29 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. The company’s quarterly revenue was down 8.9% on a year-over-year basis. Analysts expect that VeriFone Systems will post $1.39 EPS for the current fiscal year.
A number of other firms have also recently commented on PAY. Analysts at SunTrust downgraded shares of VeriFone Systems from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. Separately, analysts at Deutsche Bank cut their price target on shares of VeriFone Systems from $27.00 to $15.00 in a research note to investors on Thursday. They now have a “sell” rating on the stock. Finally, analysts at Barclays Capital cut their price target on shares of VeriFone Systems from $47.00 to $28.00 in a research note to investors on Thursday. They now have an “overweight” rating on the stock.
Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $22.00.
VeriFone Systems, Inc (NYSE:PAY), formerly VeriFone Holdings, Inc, is a holding company for VeriFone, Inc The Company is engaged in the secure electronic payment solutions.
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