VeriFone Systems’s Equal Weight Rating Reiterated at Morgan Stanley (PAY)
VeriFone Systems (NYSE:PAY)‘s stock had its “equal weight” rating restated by research analysts at Morgan Stanley in a report released on Friday. They currently have a $36.00 target price on the stock, up from their previous target price of $35.00. Morgan Stanley’s price target suggests a potential upside of 2.71% from the stock’s previous close.
The analysts wrote, “VeriFone continues its turnaround with a strong 3Q14, highlighted by a 4% revenue beat and a 14% Adj. EPS beat. Results were strong across all key segments and geography. We raise our Price Target $1 to $36. Remain EW.”
VeriFone Systems (NYSE:PAY) traded down 1.77% on Friday, hitting $34.43. The stock had a trading volume of 768,732 shares. VeriFone Systems has a 52 week low of $21.44 and a 52 week 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 $3.847 billion.
VeriFone Systems (NYSE:PAY) last issued its quarterly earnings data on Thursday, September 4th. The company reported $0.40 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.24 earnings per share. VeriFone Systems’s revenue was up 14.4% compared to the same quarter last year. Analysts expect that VeriFone Systems will post $1.46 EPS for the current fiscal year.
A number of other firms have also recently commented on PAY. Analysts at RBC Capital raised their price target on shares of VeriFone Systems from $36.00 to $40.00 in a research note on Friday. They now have a “sector perform” rating on the stock. Separately, analysts at Raymond James downgraded shares of VeriFone Systems from an “outperform” rating to a “market perform” rating in a research note on Friday. Finally, 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. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company. VeriFone Systems has a consensus rating of “Hold” and a consensus target price of $33.83.
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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