Paysign (NASDAQ:PAYS) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Paysign (NASDAQ:PAYS) from a hold rating to a buy rating in a report released on Monday morning.

A number of other research analysts have also weighed in on PAYS. Weiss Ratings restated a “hold (c)” rating on shares of Paysign in a report on Thursday, January 22nd. Lake Street Capital upped their price target on Paysign from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, March 25th. Finally, DA Davidson reissued a “buy” rating and issued a $9.00 price target on shares of Paysign in a research report on Thursday, March 26th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.42.

Paysign Price Performance

NASDAQ:PAYS opened at $5.76 on Monday. Paysign has a one year low of $1.80 and a one year high of $8.88. The company has a market cap of $317.89 million, a PE ratio of 44.31 and a beta of 0.99. The firm has a 50-day moving average of $3.83 and a 200-day moving average of $4.82.

Paysign (NASDAQ:PAYS) last announced its quarterly 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 business had revenue of $22.76 million during the quarter, compared to the consensus estimate of $21.54 million. Paysign had a net margin of 9.21% and a return on equity of 17.19%. On average, equities research analysts expect that Paysign will post 0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paysign

Several hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in shares of Paysign by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 258,334 shares of the company’s stock worth $548,000 after buying an additional 17,466 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Paysign during the first quarter valued at approximately $51,000. Rhumbline Advisers lifted its holdings in Paysign by 5.2% during the first quarter. Rhumbline Advisers now owns 46,587 shares of the company’s stock worth $99,000 after acquiring an additional 2,303 shares during the period. Geode Capital Management LLC lifted its holdings in Paysign by 1.6% during the second quarter. Geode Capital Management LLC now owns 788,500 shares of the company’s stock worth $5,679,000 after acquiring an additional 12,490 shares during the period. Finally, CreativeOne Wealth LLC purchased a new position in Paysign in the second quarter worth $182,000. 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.