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Equities research analysts at Morgan Stanley assumed coverage on shares of VeriFone Systems (NYSE:PAY) in a research note issued to investors on Tuesday. The firm set an “equal weight” rating and a $35.00 price target on the stock. Morgan Stanley’s target price suggests a potential downside of 4.68% from the stock’s previous close.

The analysts wrote, “PAY has resolved certification issues and is in the midst of a restructuring effort that should position it for accelerating growth. However, the stock is already pricing in near-term progress, while visibility on longer-term growth remains limited. Risk/reward looks balanced after recent rerating.”

Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of VeriFone Systems from $38.00 to $42.00 in a research note on Monday. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of VeriFone Systems in a research note on Friday. They now have a $38.00 price target on the stock, up previously from $34.00. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of VeriFone Systems in a research note on Friday. They now have a $39.00 price target on the stock, up previously from $36.00. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. VeriFone Systems presently has a consensus rating of “Hold” and an average price target of $32.85.

VeriFone Systems (NYSE:PAY) opened at 36.72 on Tuesday. VeriFone Systems has a one year low of $15.34 and a one year high of $37.00. The stock has a 50-day moving average of $33.46 and a 200-day moving average of $30.03. The company’s market cap is $4.102 billion.

VeriFone Systems (NYSE:PAY) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. The company had revenue of $467.00 million for the quarter, compared to the consensus estimate of $443.42 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts predict that VeriFone Systems will post $1.44 earnings per share for the current fiscal year.

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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