Goldman Bets Big On Paymentus' Relation With PayPal, JPMorgan

  • Goldman Sachs analyst Will Nance initiated coverage on Paymentus Holdings Inc PAY with a Buy rating and $41 price target, representing 44% upside. 
  • The analyst believes the market is overly pessimistic on its ability to see accelerating revenue momentum given its recent messaging around revenue visibility. 
  • Further, Paymentus's partnerships with PayPal Holdings Inc PYPL and JPMorgan Chase & Co JPM, as well as recent large client wins, should drive upside to revenue estimates and lead to higher EBITDA margins, Nance tells investors in a research note.
  • Paymentus is a provider of cloud-based bill payment technology and solutions. 
  • Price Action: PAY shares traded higher by 4.16% at $28.40 on the last check Friday.
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