Seaport Global started coverage on Paymentus Holdings (PAY) with a Buy rating and a $42 price target, implying roughly 15% upside from the $36.64 close. The move accompanies other initiation notes on biotech and financials in the same piece, signaling improving analyst sentiment. The catalyst could push PAY higher in the near term as investors reprice the stock to reflect new coverage.
PAY to release Q4 results on March 10, earnings expected at 12 cents. Projected Q4 revenue is $222.06 million, up from $164.8 million last year. Wells Fargo raised PAY price target to $33; Baird to $36. Recent stock price closed at $25.95, dropped 0.2% on Thursday. Analysts maintain mostly positive ratings with several increased price targets.