Wall Street Zen Upgrades Paysign Stock to Buy Amid Positive Outlook

Paysign (NASDAQ: PAYS) received an upgrade from analysts at Wall Street Zen, shifting its rating from “hold” to “buy.” This announcement, made on November 11, 2023, is part of a growing trend among investment analysts who are positively reassessing the company’s stock performance.

Several other firms have also provided insights on Paysign’s stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares on October 8, 2023, while DA Davidson maintained a “buy” rating with a price target of $9.00 in their report released on November 9, 2023. Lake Street Capital increased their price objective from $9.00 to $10.00, categorizing the stock as a “buy” in a report issued on August 6, 2023. Currently, four investment analysts have rated Paysign as a “buy,” while one has given it a “hold” rating. According to data from MarketBeat, the stock holds an average rating of “Moderate Buy” with a consensus target price of $8.56.

Recent Earnings and Market Performance

Paysign recently reported its quarterly earnings on November 12, 2023, revealing earnings per share (EPS) of $0.04, which aligned with analysts’ expectations. The company generated $21.60 million in revenue, exceeding the forecast of $19.92 million. The firm reported a return on equity of 19.32% and a net margin of 9.90%. Looking ahead, Paysign has set its fiscal year 2025 guidance at an EPS range of $0.120 to $0.130, with analysts projecting an EPS of $0.21 for the current year.

Despite the positive earnings report, Paysign’s stock experienced a decline, trading down by 6.6% following the announcement.

Institutional Investment Movements

Institutional investors have recently adjusted their holdings in Paysign, reflecting a significant interest in the company. Raymond James Financial Inc. acquired a new position during the second quarter, investing approximately $30,000. Royce & Associates LP increased its stake by 36.5% in the first quarter, now holding 19,319 shares valued at around $41,000 after adding 5,166 shares in the last quarter.

Additionally, BNP Paribas Financial Markets raised its position by 99.8% in the third quarter, now owning 6,912 shares worth $43,000. Other significant investments include Jane Street Group LLC, which purchased shares worth approximately $51,000, and Inscription Capital LLC, which invested $69,000 in the third quarter. Currently, institutional investors hold 25.89% of Paysign’s stock.

Founded in 2015, Paysign, Inc. specializes in providing prepaid card programs, digital banking services, and integrated payment processing tailored for businesses, consumers, and government entities. Its diverse product offerings include solutions for corporate rewards, prepaid gift cards, and healthcare reimbursement payments, among others.

As Paysign continues to navigate the financial landscape, the recent upgrades and positive earnings report signal a promising outlook for the company and its investors.