Payment Data Systems (NASDAQ:PYDS)‘s stock had its “buy” rating reaffirmed by analysts at Maxim Group in a report released on Friday, AnalystRatings.com reports. They presently have a $4.50 price target on the business services provider’s stock. Maxim Group’s price target would indicate a potential upside of 98.24% from the stock’s previous close.
The analysts wrote, “1Q19 revenue of $6.6M increased 12.7% y/y, and was inline with consensus. Management guided to 20% FY19 revenue growth, mainly in 2H19, so we expect revenue to accelerate after 2Q19, driven by meaningful contributions from PayFac (especially) and prepaid debit cards. Our $4.50 price target equates to a multiple of enterprise value/revenue of 2.3x based on our new 2020 revenue estimate of $36.0M, versus an average of 3.9x for payments company peers. In our view, a material discount is warranted at this time given PYDS’ lack of scale and profitability. We reiterate our Buy rating.””
Several other analysts also recently issued reports on the company. Barrington Research set a $5.00 price target on Payment Data Systems and gave the stock a “buy” rating in a report on Tuesday, May 14th. ValuEngine raised Payment Data Systems from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Zacks Investment Research downgraded Payment Data Systems from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Finally, Dawson James reissued a “buy” rating on shares of Payment Data Systems in a report on Monday, April 8th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $4.08.
Shares of PYDS opened at $2.27 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.07. Payment Data Systems has a 52 week low of $1.38 and a 52 week high of $3.82.
Payment Data Systems (NASDAQ:PYDS) last issued its earnings results on Wednesday, May 15th. The business services provider reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The firm had revenue of $6.59 million during the quarter, compared to analyst estimates of $6.63 million. Payment Data Systems had a negative return on equity of 36.84% and a negative net margin of 14.73%. As a group, equities research analysts anticipate that Payment Data Systems will post -0.25 EPS for the current year.
In related news, Director Steve Huffman sold 17,186 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $2.75, for a total value of $47,261.50. Following the sale, the director now owns 49,481 shares of the company’s stock, valued at approximately $136,072.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 46.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in PYDS. Essex Investment Management Co. LLC raised its stake in Payment Data Systems by 36.6% during the 4th quarter. Essex Investment Management Co. LLC now owns 165,774 shares of the business services provider’s stock valued at $275,000 after acquiring an additional 44,429 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Payment Data Systems during the 1st quarter valued at $119,000. Sabby Management LLC bought a new stake in Payment Data Systems during the 1st quarter valued at $193,000. Finally, Mesirow Financial Investment Management Inc. bought a new stake in Payment Data Systems during the 1st quarter valued at $253,000. 2.40% of the stock is currently owned by institutional investors and hedge funds.
About Payment Data Systems
Payment Data Systems, Inc, together with its subsidiaries, provides integrated electronic payment processing services to merchants and businesses in the United States. The company offers various types of automated clearing house (ACH) processing; and credit, prepaid card, and debit card-based processing services.
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