Paysign (NASDAQ:PAYS) Earns Buy Rating from DA Davidson

Paysign (NASDAQ:PAYS)‘s stock had its “buy” rating reiterated by investment analysts at DA Davidson in a research report issued on Thursday,Benzinga reports. They presently have a $9.00 price objective on the stock. DA Davidson’s target price suggests a potential upside of 60.14% from the stock’s previous close.

PAYS has been the topic of several other research reports. Wall Street Zen downgraded Paysign from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Lake Street Capital boosted their target price on shares of Paysign from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Paysign in a report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $9.42.

Paysign Price Performance

Shares of NASDAQ:PAYS opened at $5.62 on Thursday. Paysign has a 1 year low of $1.80 and a 1 year high of $8.88. The business has a 50 day simple moving average of $3.80 and a two-hundred day simple moving average of $4.83. The firm has a market capitalization of $310.17 million, a PE ratio of 43.23 and a beta of 0.99.

Paysign (NASDAQ:PAYS) last released its earnings results on Tuesday, March 24th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Paysign had a net margin of 9.21% and a return on equity of 17.19%. The business had revenue of $22.76 million for the quarter, compared to the consensus estimate of $21.54 million. Equities research analysts expect that Paysign will post 0.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Paysign

Several hedge funds have recently modified their holdings of the business. Topline Capital Management LLC boosted its position in Paysign by 0.4% during the 3rd quarter. Topline Capital Management LLC now owns 5,445,188 shares of the company’s stock valued at $34,250,000 after acquiring an additional 23,451 shares in the last quarter. Vanguard Group Inc. grew its stake in Paysign by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,820,371 shares of the company’s stock worth $11,450,000 after buying an additional 29,150 shares during the last quarter. Punch & Associates Investment Management Inc. grew its stake in shares of Paysign by 164.6% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 1,462,560 shares of the company’s stock worth $7,532,000 after acquiring an additional 909,825 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its position in Paysign by 14.8% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,457,941 shares of the company’s stock worth $7,508,000 after purchasing an additional 187,767 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Paysign by 15.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,303,772 shares of the company’s stock worth $6,714,000 after acquiring an additional 177,350 shares during the last quarter. Hedge funds and other institutional investors own 25.89% of the company’s stock.

About Paysign

Paysign, Inc (NASDAQ:PAYS) is a U.S.-based financial technology company specializing in prepaid payment solutions. Through its cloud-based platform, the company enables corporations, government agencies and payroll providers to issue and manage stored-value cards, digital wallets and disbursement programs. Paysign’s offerings span gift and incentive cards, payroll and earned-wage access cards, government benefit distribution, tax refund solutions and health savings account disbursements.

The company’s flagship Paysign Experience Platform provides configurable card programs with real-time transaction reporting, fraud monitoring and regulatory compliance tools.