Brokerage Firm Rating Update on Verifone Systems (PAY)

Verifone Systems (PAY) : 6 brokerage houses believe that Verifone Systems (PAY) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 9 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Verifone Systems (PAY). Zacks Investment Research suggests a Buy with a rank of 2.The median of all the 16 Wall Street Analysts endorse the stock as a Buy with a rating of 2.19.

Verifone Systems (PAY) : The most positive equity analysts on Verifone Systems (PAY) expects the shares to touch $30, whereas, the least positive believes that the stock will trade at $15 in the short term. The company is covered by 13 Wall Street Brokerage Firms. The average price target for shares are $22.31 with an expected fluctuation of $4.52 from the mean.


For the current week, the company shares have a recommendation consensus of Buy. Also, PiperJaffray downgrades their rating on the shares of Verifone Systems (NYSE:PAY). The current rating of the shares is Neutral. Earlier, the shares were rated a Overweight by the brokerage firm. The rating by the firm was issued on September 2, 2016.

Verifone Systems (NYSE:PAY): The stock opened at $16.79 and touched an intraday high of $16.94 on Wednesday. During the day, the stock corrected to an intraday low of $16.72, however, the bulls stepped in and pushed the price higher to close in the green at $16.88 with a gain of 0.36% for the day. The total traded volume for the day was 4,921,632. The stock had closed at $16.82 in the previous trading session.

VeriFone Systems, Inc. (VeriFone), formerly VeriFone Holdings, Inc. is a holding company of VeriFone, Inc. The Company is engaged in the secure electronic payment solutions. Its system solutions consist of point of sale (POS) electronic payment devices that run its and third-party operating systems, security and encryption software, and certified payment software, as well as other third-party value-added applications. Its system solutions process a range of payment types. The Companys electronic payment systems are available in several modular configurations, offering its support to a range of connectivity options. The Company also offers customers technical support for installed payment systems, consulting services, and project management services for system deployment, and customization of integrated software solutions. It provides solutions, and services for the financial services, retail, petroleum, restaurant, hospitality, taxi, transportation, and healthcare markets.

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