Short Term Price Target on Verifone Systems (PAY)

Verifone Systems (NYSE:PAY) : 15 Wall Street analysts covering Verifone Systems (NYSE:PAY) believe that the average level the stock could reach for the short term is $28.6. The maximum price target given is $42 and the minimum target for short term is around $19, hence the standard deviation is calculated at $6.41.

VeriFone Systems, Inc. has lost 4.92% in the last five trading days and dropped 30.59% in the last 4 weeks. VeriFone Systems, Inc. has dropped 34.26% during the last 3-month period . Year-to-Date the stock performance stands at -33.83%. Also, Imperial Capital maintains its rating on Verifone Systems (NYSE:PAY). The global brokerage major lowers the current price target from $32 per share to $24 per share. Analysts at the Imperial Capital have a current rating of Outperform on the shares. The rating by the firm was issued on June 20, 2016.

Verifone Systems (NYSE:PAY) has an average broker rating of 2, which is interpreted as a Buy, as rated by 17 equity analysts. Nonetheless, 8 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 1 other analysts advise a Buy. Nevertheless, the majority of 8 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 5, which is also a Strong Sell.

Verifone Systems (NYSE:PAY): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $17.90 and $17.76 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $18.55. The buying momentum continued till the end and the stock did not give up its gains. It closed at $18.54, notching a gain of 3.58% for the day. The total traded volume was 4,377,178 . The stock had closed at $17.90 on the previous day.

In an insider trading activity, Bhanot Alok, officer (EVP, Engineering & CTO) of Verifone Systems, Inc., unloaded 994 shares at an average price of $28.74 on December 29, 2015. The total amount of the transaction was worth $28,568, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

VeriFone Systems, Inc. (VeriFone), formerly VeriFone Holdings, Inc. is a holding company of VeriFone, Inc. The Company is engaged in the secure electronic payment solutions. Its system solutions consist of point of sale (POS) electronic payment devices that run its and third-party operating systems, security and encryption software, and certified payment software, as well as other third-party value-added applications. Its system solutions process a range of payment types. The Companys electronic payment systems are available in several modular configurations, offering its support to a range of connectivity options. The Company also offers customers technical support for installed payment systems, consulting services, and project management services for system deployment, and customization of integrated software solutions. It provides solutions, and services for the financial services, retail, petroleum, restaurant, hospitality, taxi, transportation, and healthcare markets.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.