DA Davidson Increases Paysign (NASDAQ:PAYS) Price Target to $6.00

Paysign (NASDAQ:PAYS) had its price objective increased by investment analysts at DA Davidson from $5.00 to $6.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price target points to a potential upside of 56.25% from the stock’s previous close.

A number of other research firms have also commented on PAYS. Lake Street Capital lifted their target price on Paysign from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Friday, May 9th. LADENBURG THALM/SH SH lifted their target price on Paysign from $7.25 to $8.25 and gave the stock a “buy” rating in a report on Friday, May 9th. Finally, Barrington Research reissued an “outperform” rating and issued a $7.00 target price on shares of Paysign in a report on Wednesday, March 26th.

Paysign Stock Up 15.3%

PAYS stock opened at $3.84 on Wednesday. Paysign has a twelve month low of $1.80 and a twelve month high of $5.59. The firm has a market cap of $206.39 million, a PE ratio of 25.60 and a beta of 0.23. The business has a 50 day moving average of $2.34 and a 200 day moving average of $2.82.

Paysign (NASDAQ:PAYS) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Paysign had a return on equity of 30.64% and a net margin of 14.28%. The company had revenue of $18.60 million during the quarter, compared to analyst estimates of $17.49 million. On average, research analysts expect that Paysign will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Mark Newcomer sold 100,000 shares of Paysign stock in a transaction on Monday, February 24th. The stock was sold at an average price of $2.73, for a total value of $273,000.00. Following the completion of the sale, the chief executive officer now owns 8,936,886 shares of the company’s stock, valued at $24,397,698.78. The trade was a 1.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 22.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Paysign

Large investors have recently modified their holdings of the company. PDT Partners LLC bought a new stake in shares of Paysign in the fourth quarter worth $39,000. Royce & Associates LP lifted its position in Paysign by 36.5% during the first quarter. Royce & Associates LP now owns 19,319 shares of the company’s stock valued at $41,000 after purchasing an additional 5,166 shares in the last quarter. Wells Fargo & Company MN lifted its position in Paysign by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 15,385 shares of the company’s stock valued at $46,000 after purchasing an additional 5,243 shares in the last quarter. SG Americas Securities LLC lifted its position in Paysign by 33.5% during the fourth quarter. SG Americas Securities LLC now owns 15,508 shares of the company’s stock valued at $47,000 after purchasing an additional 3,895 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Paysign during the fourth quarter valued at $78,000. Institutional investors own 25.89% of the company’s stock.

Paysign Company Profile

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.