In a report released today, Mark Palmer from Benchmark Co. reiterated a Buy rating on Repay Holdings, with a price target of $8.00.
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Mark Palmer has given his Buy rating due to a combination of factors that suggest a positive outlook for Repay Holdings. The company has experienced challenges such as client attrition and muted payment volumes, but recent reports indicate that these issues are being addressed, laying the groundwork for a recovery. The stock has already seen a significant increase, yet Palmer believes that the operational recovery is not fully reflected in the current price, suggesting further upside potential.
Key drivers for this anticipated growth include the benefits from the TotalPay migration, which enhances revenue potential, and a robust sales pipeline in the accounts payable business. Additionally, the reduced impact of previous client losses is expected to contribute to a reacceleration of gross profit growth in the latter half of 2025. Despite the recent rally, the stock is still considered undervalued compared to its peers, offering an attractive opportunity for investors as the company’s operations stabilize and investor confidence is restored.
In another report released on August 13, D.A. Davidson also maintained a Buy rating on the stock with a $10.00 price target.