Paymentus upgraded to Strong Buy from Outperform at Raymond James

Raymond James upgraded Paymentus (PAY) to Strong Buy from Outperform with a price target of $35, down from $41. The stock has been added to the Analyst Current Favorites list following a 30% pullback versus a 13% gain for the Russell 2000 over the past three months, creating an attractive risk/reward, the analyst tells investors in a research note. Strong $4 results are anticipated, with potential upside to contribution profit and adjusted EBITDA in 2026, Raymond James says.