Paysign’s (PAYS) Buy Rating Reiterated at DA Davidson

DA Davidson restated their buy rating on shares of Paysign (NASDAQ:PAYS) in a research note released on Thursday morning,Benzinga reports. DA Davidson currently has a $9.00 price objective on the stock.

Other equities analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Paysign from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Lake Street Capital lifted their price objective on shares of Paysign from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Paysign in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Paysign has an average rating of “Moderate Buy” and a consensus target price of $9.42.

Paysign Price Performance

NASDAQ:PAYS opened at $5.62 on Thursday. Paysign has a 12-month low of $1.80 and a 12-month high of $8.88. The firm has a market capitalization of $310.17 million, a P/E ratio of 43.23 and a beta of 0.99. The business has a 50 day simple moving average of $3.80 and a 200 day simple moving average of $4.82.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PAYS. Caitong International Asset Management Co. Ltd raised its stake in shares of Paysign by 381.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,876 shares of the company’s stock valued at $51,000 after purchasing an additional 7,825 shares in the last quarter. Invesco Ltd. lifted its holdings in Paysign by 44.7% in the fourth quarter. Invesco Ltd. now owns 24,412 shares of the company’s stock worth $126,000 after purchasing an additional 7,537 shares during the period. Engineers Gate Manager LP grew its position in Paysign by 138.3% in the 4th quarter. Engineers Gate Manager LP now owns 34,063 shares of the company’s stock valued at $175,000 after buying an additional 19,769 shares in the last quarter. Russell Investments Group Ltd. grew its position in Paysign by 11.2% in the 4th quarter. Russell Investments Group Ltd. now owns 53,345 shares of the company’s stock valued at $275,000 after buying an additional 5,359 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. increased its stake in Paysign by 164.6% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 1,462,560 shares of the company’s stock valued at $7,532,000 after buying an additional 909,825 shares during the period. 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.