These Analysts Boost Their Forecasts On Paymentus Following Strong Q2 Results

Paymentus Holdings, Inc. PAY reported upbeat second-quarter results.

Paymentus posted adjusted earnings of 8 cents per share, beating market estimates of 1 cent per share. The company’s quarterly sales came in at $148.94 million, versus expectations of $144.36 million.

Paymentus Holdings said it sees FY23 revenue of $599 million to $609 million, versus market expectations of $599.49 million.

Paymentus shares jumped 10.8% to $11.85 in pre-market trading.

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These analysts made changes to their price targets on Paymentus following earnings announcement.

• Goldman Sachs raised the price target on Paymentus from $9 to $12. Goldman Sachs analyst Will Nance upgraded the stock from Sell to Neutral.
• Raymond James increased the price target on Paymentus from $10 to $13. Raymond James analyst John Davis maintained an Outperform rating.

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