Wedbush Increases VeriFone Systems Price Target to $35.00 (PAY)
Investment analysts at Wedbush lifted their target price on shares of VeriFone Systems (NYSE:PAY) from $28.00 to $35.00 in a note issued to investors on Tuesday, American Banking News.com reports. Wedbush’s price target suggests a potential upside of 23.85% from the company’s current price.
A number of other firms have also recently commented on PAY. Analysts at Jefferies Group raised their price target on shares of VeriFone Systems to $34.00 in a research note to investors on Tuesday. Separately, 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. Finally, analysts at JPMorgan Chase & Co. upgraded shares of VeriFone Systems from a “neutral” rating to an “overweight” rating in a research note to investors on Tuesday, January 14th. They now have a $32.00 price target on the stock, up previously from $27.00. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $27.64.
VeriFone Systems (NYSE:PAY) traded up 1.52% during mid-day trading on Tuesday, hitting $28.69. 620,505 shares of the company’s stock traded hands. VeriFone Systems has a one year low of $15.34 and a one year 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 $3.168 billion.
VeriFone Systems (NYSE:PAY) last issued its quarterly earnings data on Tuesday, December 17th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter 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 sold 1,826,834 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $27.56, for a total value of $50,347,545.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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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