VeriFone Systems (NYSE:PAY) was upgraded by analysts at Wedbush to an “outperform” rating in a research report issued to clients and investors on Friday, Stock Ratings Network reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG cut their price target on shares of VeriFone Systems (NYSE:PAY) from $39.00 to $26.00 in a research note to investors on Thursday, August 22nd. They now have a “buy” rating on the stock. Separately, analysts at SunTrust downgraded shares of VeriFone Systems (NYSE:PAY) from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, August 22nd. Finally, analysts at Deutsche Bank cut their price target on shares of VeriFone Systems (NYSE:PAY) from $27.00 to $15.00 in a research note to investors on Thursday, August 22nd. They now have a “sell” rating on the stock.
Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. VeriFone Systems currently has an average rating of “Hold” and a consensus target price of $22.00.
Shares of VeriFone Systems (NYSE:PAY) opened at 20.72 on Friday. VeriFone Systems has a 52 week low of $15.34 and a 52 week high of $36.13. The stock has a 50-day moving average of $19.2 and a 200-day moving average of $20.00. The company has a market cap of $2.249 billion and a price-to-earnings ratio of 124.07. VeriFone Systems also saw some unusual options trading on Wednesday. Stock investors acquired 9,436 call options on the stock. This represents an increase of 483% compared to the typical volume of 1,619 call options.
VeriFone Systems (NYSE:PAY) last announced its earnings results on Thursday, September 5th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.20 by $0.04. The company had revenue of $416.00 million for the quarter, compared to the consensus estimate of $400.83 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. The company’s quarterly revenue was down 15.2% on a year-over-year basis. Analysts expect that VeriFone Systems will post $1.39 EPS for the current fiscal year.
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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