Market Overview

Expect 'Solid' Q2 Results From Verifone

Share:
Expect 'Solid' Q2 Results From Verifone

VeriFone Systems Inc (NYSE: PAY) is set to report second-quarter earnings on Tuesday.

Pacific Crest's Josh Beck offered his take on the company and stock ahead of the quarterly print.

"We expect solid results and see room for a modest beat and raise in line with the beat, but expect an ongoing transition in China and Brazil and product expansion to limit the magnitude of upside," Beck said. "[W]e remain positively biased on the midterm outlook as steady execution should drive improved confidence in the sustainability of mid-teens or better EPS growth, which warrants a market multiple, in our view."

The Pacific Crest analyst offered a look into investor sentiment on VeriFone: "Sentiment appears generally negative as investors are concerned about mixed international execution and the prospects for sustainable growth beyond the EMV cycle benefit."

Beck maintains an Overweight rating and $36 price target on VeriFone shares.

Latest Ratings for PAY

DateFirmActionFromTo
Apr 2018DowngradesBuyHold
Apr 2018DowngradesBuyHold
Apr 2018MaintainsNeutralNeutral

View More Analyst Ratings for PAY
View the Latest Analyst Ratings

Posted-In: Josh Beck Pacific CrestAnalyst Color Previews Analyst Ratings Trading Ideas

 

Related Articles (PAY)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
WUBABOCOM InternationalDowngrades
DLTROTR GlobalUpgrades
ARCCCompass PointDowngrades
GTYHCitiInitiates Coverage On7.0
NKEGuggenheimMaintains100.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

BofA Sees 'Encouraging Signs' For Joy Global

Pacific Crest Remains A Buyer Of Veeco Instruments Following Recent Site Visit