Paymentus price target raised to $38 from $37 at Raymond James

Raymond James analyst John Davis raised the firm’s price target on Paymentus (PAY) to $38 from $37 and keeps an Outperform rating on the shares. Paymentus reported “solid” Q2 results that featured a 10% adjusted EBITDA beat, and the sales pipeline remains robust as management highlighted an “exceptional” backlog and bookings exiting the quarter, with strength across multiple verticals, the analyst tells investors in a research note. Raymond James continues to see a favorable risk/reward.