A number of firms have modified their ratings and price targets on shares of Verifone Systems (NYSE: PAY) recently:

  • 9/12/2017 – Verifone Systems is now covered by analysts at Bank of America Corporation. They set an “underperform” rating and a $19.00 price target on the stock.
  • 9/11/2017 – Verifone Systems had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $23.00 price target on the stock, up previously from $20.00.
  • 9/11/2017 – Verifone Systems had its “hold” rating reaffirmed by analysts at BTIG Research. They wrote, “Near-Term Challenges; FY17 EPS Guidance Reduced VeriFone Systems’ (PAY) management in conjunction with the 3Q17 report the company released yesterday after the market close offered plenty of positive commentary about the prospects of its next-generation devices and services, as well as its ongoing mix shift from episodic hardware sales to higher-margin, recurring services revenue.””
  • 9/8/2017 – Verifone Systems had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $20.00 price target on the stock.
  • 9/8/2017 – Verifone Systems was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “VeriFone’s third-quarter fiscal 2017 results were unimpressive. Earnings were in line with the Zacks Consensus Estimate but declined on a year-over-year basis due to weak top-line growth. The decline can be attributed to sluggishness in the Asia-Pacific and North America regions. This was partially offset by strong revenue growth in Latin America and Europe, Middle East and Africa (EMEA). Management expects this weakness to continue, which along with the taxi business divestiture, compelled it to lower fiscal 2017 guidance. Notably, the stock has underperformed the industry on a year-to-date basis. However, the company believes that strength in retail and SMB will help the North America segment revenues to recover going forward. We believe that the company's strong product portfolio that now includes the likes of Carbon 8 and Engage will help in expanding customer base in the long haul.”
  • 9/6/2017 – Verifone Systems was downgraded by analysts at Northcoast Research from a “buy” rating to a “neutral” rating.
  • 8/23/2017 – Verifone Systems was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 8/16/2017 – Verifone Systems was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/14/2017 – Verifone Systems was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “VeriFone has underperformed the broader industry on a year-to-date basis. Based on the unimpressive second-quarter results and divestiture of three non-core businesses, the company lowered its fiscal 2017 guidance. Continued forex volatility along with increasing competition remain key areas of concern for the company. Nevertheless, we believe that the company's strong product portfolio that  now includes the likes of Carbon 8 and Engage will help in expanding customer base in the long haul.”
  • 8/2/2017 – Verifone Systems was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “VeriFone has underperformed the broader industry on a year-to-date basis. Based on the unimpressive second-quarter results and divestiture of three non-core businesses, the company lowered its fiscal 2017 guidance. Continued forex volatility along with increasing competition remain key areas of concern for the company. Nevertheless, we believe that the company's strong product portfolio that  now includes the likes of Carbon 8 and Engage will help in expanding customer base in the long haul.”
  • 7/28/2017 – Verifone Systems was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/19/2017 – Verifone Systems was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Shares of Verifone Systems, Inc. (NYSE PAY) opened at 20.98 on Thursday. The stock’s market cap is $2.35 billion. The firm’s 50-day moving average price is $19.35 and its 200-day moving average price is $18.73. Verifone Systems, Inc. has a 52-week low of $14.94 and a 52-week high of $21.48.

Verifone Systems (NYSE:PAY) last issued its quarterly earnings data on Thursday, September 7th. The business services provider reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. Verifone Systems had a negative net margin of 9.76% and a positive return on equity of 11.19%. The firm had revenue of $466.90 million for the quarter, compared to analyst estimates of $464.13 million. During the same period in the prior year, the business posted $0.42 EPS. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. Equities analysts predict that Verifone Systems, Inc. will post $1.30 EPS for the current year.

VeriFone Systems, Inc offers payments and commerce solutions. The Company is engaged in designing, manufacturing, marketing and supplying a range of payment solutions and complementary services. It provides solutions and services for the retail point-of-sale (POS) that enable various forms of commerce.

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