VeriFone Systems PT Raised to $40.00 (PAY)
Equities researchers at RBC Capital increased their target price on shares of VeriFone Systems (NYSE:PAY) from $36.00 to $40.00 in a research report issued on Friday. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price objective would suggest a potential upside of 14.12% from the company’s current price.
VeriFone Systems (NYSE:PAY) opened at 35.05 on Friday. VeriFone Systems has a one year low of $21.44 and a one year high of $38.26. The stock’s 50-day moving average is $34.63 and its 200-day moving average is $33.7. The company’s market cap is $3.916 billion.
VeriFone Systems (NYSE:PAY) last issued its quarterly earnings data on Thursday, September 4th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.35 by $0.05. The company had revenue of $476.00 million for the quarter, compared to the consensus estimate of $458.90 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The company’s quarterly revenue was up 14.4% 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James downgraded shares of VeriFone Systems from an “outperform” rating to a “market perform” rating in a research note on Friday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of VeriFone Systems in a research note on Monday, August 18th. They now have a $36.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of VeriFone Systems in a research note on Wednesday, August 13th. They now have a $41.00 price target on the stock, up previously from $39.00. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. VeriFone Systems presently has an average rating of “Hold” and a consensus price target of $33.75.
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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