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Investing.com - DA Davidson has reiterated its Buy rating on Shift4 Payments (NYSE:FOUR) with a price target of $124.00, representing potential upside from the current price of $103.26. The company, now valued at $9.15 billion, has demonstrated strong performance with a 43% return over the past year.
The financial services firm maintained its positive outlook following Shift4’s SEC filing to register 912,000 shares of Class A common stock recently acquired by two investors.
According to the filing, the shares were purchased directly from Shift4 by Ant International and an affiliate of Tencent (HK:0700) Holdings (OTC:TCEHY) on July 11.
DA Davidson noted it plans to update its preliminary pro forma financial forecasts for the combined operations of Shift4 and Global Blue in the near future.
The firm’s $124 price target for Shift4 Payments remains unchanged as it continues to view the payment processing company favorably.
In other recent news, Shift4 Payments announced the successful completion of its acquisition of Global Blue Group Holding AG for $7.50 per share, marking a significant milestone for the company. This acquisition, which saw 97.37% of Global Blue’s shares tendered, includes plans to integrate Global Blue’s tax refund and currency conversion capabilities into Shift4’s platform. In addition, Shift4 will collaborate with strategic partners Ant International and Tencent to expand global e-commerce payment solutions. On the financial front, Global Blue reported a 20% increase in revenue to €508 million and a 36% rise in adjusted EBITDA to €202 million for the fiscal year 2025. Analysts from DA Davidson have maintained a Buy rating for Shift4 Payments, reflecting confidence in the company’s financial outlook. Similarly, Citi analysts reiterated their Buy rating, expressing optimism about recent leadership changes, with Taylor Lauber appointed as CEO and Jared Isaacman as Executive Chairman. Meanwhile, Keefe, Bruyette & Woods analysts have maintained a Market Perform rating, noting the potential positive impact of Isaacman’s return in a leadership role. These developments highlight Shift4 Payments’ ongoing strategic growth and market positioning.
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