Paymentus price target lowered to $32 from $37 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Paymentus (PAY) to $32 from $37 and keeps a Neutral rating on the shares. Shares declined after hours primarily due to full-year guidance coming in modestly below consensus, though management’s historically conservative methodology and consistent mid-single-digit beats suggest limited cause for concern, especially given strong momentum from large enterprise billers in newer verticals, the analyst tells investors in a research note.