VeriFone Systems Price Target Increased to $18.00 by Analysts at Deutsche Bank (PAY)
Equities research analysts at Deutsche Bank boosted their price objective on shares of VeriFone Systems (NYSE:PAY) from $13.00 to $18.00 in a research note issued to investors on Tuesday, Analyst Ratings Network.com reports. The firm currently has a “sell” rating on the stock. Deutsche Bank’s price target would suggest a potential downside of 36.31% from the stock’s previous close.
VeriFone Systems (NYSE:PAY) traded up 4.92% during mid-day trading on Tuesday, hitting $29.65. The stock had a trading volume of 1,856,528 shares. VeriFone Systems has a 52-week low of $15.34 and a 52-week high of $35.69. The stock has a 50-day moving average of $26.29 and a 200-day moving average of $22.9. The company’s market cap is $3.274 billion.
VeriFone Systems (NYSE:PAY) last issued its quarterly earnings data on Tuesday, December 17th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.26 by $0.01. The company had revenue of $432.00 million for the quarter, compared to the consensus estimate of $421.50 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. The company’s quarterly revenue was down 11.7% on a year-over-year basis. On average, analysts predict that VeriFone Systems will post $1.40 earnings per share for the current fiscal year.
In other VeriFone Systems news, CEO Douglas Bergeron unloaded 1,826,834 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $27.56, for a total value of $50,347,545.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
PAY has been the subject of a number of other recent research reports. Analysts at Wedbush raised their price target on shares of VeriFone Systems from $28.00 to $35.00 in a research note to investors on Tuesday. Separately, analysts at Jefferies Group raised their price target on shares of VeriFone Systems to $34.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Barclays raised their price target on shares of VeriFone Systems from $24.00 to $29.00 in a research note to investors on Tuesday, January 21st. They now have an “equal weight” rating on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $27.00.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.