To reimburse (NASDAQ:RPAY) Inventory climbed 43.4% on Thursday after the payment technology company’s third-quarter results were slightly above Street’s estimates and it reaffirmed its guidance for the financial year.
DA Davidson maintained its buy rating on Repay (RPAY) and has set a revised price target of $18, implying upside potential of around 311% through its latest close.
“With strong third-quarter results and constructive early commentary on 2023, we believe the equity selloff has been well overdone,” analyst Peter Heckmann said. Redemption Actions (RPAY) decreased by 68% YTD.
Truist reiterated its Buy rating and held its value at $9.50 PT (~117% upside potential). “We believe investors were disappointed after the second quarter by slower-than-expected personal loan growth, and recent weakness in equities apparently reflects fears of auto-growth. However, the forecast implies that the decline in the third quarter has not worsened, which we find encouraging,” said analyst Andrew Jeffrey.
Truist raised its C23/C24 revenue/EBITDA estimates to $295M/$130M and $334M/$150M (from $288M/$127M and $330M/$148M).
Morgan Stanley cut its PT to $8.50 from $13 (~83% potential upside) and maintained its Equal Weight rating, while Credit Suisse lowered its PT to $8.50 from $11 (94% potential upside) and reiterated its Neutral rating.