RPAY - Repay stock soars 43% on strong results constructive outlook

Repay ( NASDAQ: RPAY ) stock soared 43.4% on Thursday after the payments technology firm's Q3 results came in slightly above Street estimates and it reaffirmed its FY guidance .

D.A. Davidson maintained its Buy rating on Repay ( RPAY ) and set a revised price target of $18, implying ~311% potential upside to its last close.

"With solid Q3 results and constructive preliminary commentary on 2023, we think the sell-off in the shares had been way overdone," said analyst Peter Heckmann. Shares of Repay ( RPAY ) declined 68% YTD.

Truist reiterated its Buy rating and maintained its $9.50 PT (~117% potential upside). "We think investors were disappointed, following Q2, by slower-than-expected personal loans growth, and recent stock weakness seemingly reflects auto rev growth fears. However, guidance implies that Q3 step-down did not worsen, which we find encouraging," said analyst Andrew Jeffrey.

Truist raised its C23/C24 revenue/EBITDA estimates to $295M/$130M and $334M/$150M (prior $288M/$127M and $330M/$148M).

Morgan Stanley cut its PT to $8 from $13 (~83% potential upside) and maintained its Equal Weight rating, while Credit Suisse lowered its PT to $8.50 from $11 (94% potential upside) and reiterated its Neutral rating.

While Wall Street analysts on average are bullish on Repay ( RPAY ), SA Quant rated the stock Strong Sell as it is at high risk of performing badly .

For further details see: