Trump announces trade deal with EU following months of negotiations
In a challenging economic climate, Repay Holdings Corporation (NASDAQ:RPAY) stock has reached a 52-week low, dipping to $7.15. According to InvestingPro analysis, the stock appears undervalued at current levels, with analysts setting price targets between $8 and $14. This latest price level reflects a significant downturn from the company’s performance over the past year, with a total return of -13.48% over the past 12 months. Investors are closely monitoring RPAY as it navigates through market volatility, with the current low potentially signaling a critical juncture for the company’s financial trajectory and investor sentiment. InvestingPro data reveals management has been actively buying back shares, while net income is expected to grow this year - just two of several key insights available to subscribers through the comprehensive Pro Research Report.
In other recent news, Repay Holdings Corporation reported a 6% increase in Q3 revenue to $79.1 million, a 9% rise in gross profit, and a 10% growth in adjusted EBITDA, reaching $35.1 million. These recent developments were highlighted in the company’s third-quarter earnings conference call led by CEO John Morris and CFO Tim Murphy. Meanwhile, DA Davidson, after assessing these results, adjusted its annual forecasts for Repay for the years 2024 through 2026 and revised the price target downward to $14 from the previous $16. However, the firm maintains a positive outlook on the company, as reflected in the continued Buy rating.
The firm’s analysis was based on Repay’s Q3 results, which aligned with DA Davidson’s revenue projections and exceeded the forecast for adjusted EBITDA by 1%. The performance was notably boosted by an unexpected increase in political media spending within the Business Payments segment. Repay’s management has reaffirmed their financial guidance for 2024, anticipating a revenue between $314 million and $320 million, and an adjusted EBITDA projection of $139 million to $142 million.
Despite these changes, the firm maintains a positive outlook on the company, as reflected in the continued Buy rating. Repay’s stock will continue to be monitored by investors and analysts alike as the company progresses towards its 2024 financial goals.
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