VeriFone Systems Rating Reiterated by JPMorgan Chase & Co. (PAY)
VeriFone Systems (NYSE:PAY)‘s stock had its “overweight” rating restated by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Wednesday. They currently have a $41.00 target price on the stock, up from their previous target price of $39.00. JPMorgan Chase & Co.’s price target would indicate a potential upside of 23.83% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs reiterated a “neutral” rating on shares of VeriFone Systems in a research note on Tuesday, July 8th. Separately, analysts at Morgan Stanley initiated coverage on shares of VeriFone Systems in a research note on Tuesday, June 10th. They set an “equal weight” rating and a $35.00 price target on the stock. Finally, 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, June 9th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $32.83.
Shares of VeriFone Systems (NYSE:PAY) traded up 2.20% during mid-day trading on Wednesday, hitting $33.84. 226,783 shares of the company’s stock traded hands. VeriFone Systems has a 1-year low of $18.69 and a 1-year high of $38.26. The stock’s 50-day moving average is $35.11 and its 200-day moving average is $33.03. The company’s market cap is $3.781 billion.
VeriFone Systems (NYSE:PAY) last released its earnings data on Thursday, June 5th. The company reported $0.33 EPS for the quarter, meeting the Thomson Reuters 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 prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts predict that VeriFone Systems will post $1.45 earnings per share for the current fiscal year.
In other VeriFone Systems news, EVP Sunil Aruna Kappagoda sold 84,650 shares of VeriFone Systems stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $33.18, for a total value of $2,808,687.00. 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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