Paymentus price target raised to $27 from $21 at Wells Fargo

Wells Fargo raised the firm’s price target on Paymentus (PAY) to $27 from $21 and keeps an Equal Weight rating on the shares. The firm notes Paymentus delivered a strong Q3, with all KPIs above expectations. Despite a more constructive outlook, Wells believes current valuation levels may still be a gating factor for investors.