In a report released yesterday, Gary Prestopino from Barrington maintained a Buy rating on PaySign (PAYS – Research Report), with a price target of $5.00.
Gary Prestopino has given his Buy rating due to a combination of factors including PaySign’s impressive financial performance and growth prospects. The company reported a better-than-expected Q4/24, with a 14% increase in revenue to $15.6 million and a similar rise in adjusted EBITDA to $2.86 million. This performance was driven by strong growth in the Patient Affordability segment, which saw a significant increase in revenue and the launch of new programs.
Additionally, PaySign’s full-year 2024 results showcased a 23.5% rise in revenue to $58.4 million and a 43.3% increase in adjusted EBITDA, reflecting the company’s operating leverage. The Patient Affordability business was a key growth driver, with a 212% year-over-year revenue increase and a substantial expansion in the number of active programs. These factors, along with the company’s strategic investments in IT and personnel to support future growth, underpin Prestopino’s optimistic outlook and Buy rating for PaySign.
Prestopino covers the Consumer Cyclical sector, focusing on stocks such as Liquidity Services, LKQ, and Cars. According to TipRanks, Prestopino has an average return of 15.9% and a 54.90% success rate on recommended stocks.
In another report released yesterday, Maxim Group also reiterated a Buy rating on the stock with a $7.00 price target.