An interesting stock that came up in some of our conversations today is PaySign, Inc. (NASDAQ:PAYS). At current price of $11.86, the shares have already lost -0.33 points (-2.71% lower) from its previous close of $12.19. Should you buy or avoid them? The stock sets an active trading volume day with a reported 733503 contracts so far this session. PAYS shares had a relatively better volume day versus average trading capacity of 1.32 million shares, but with a 26.62 million float and a 13.08% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for PAYS stock indicates that the average analyst price target is $15 per share. This means the stock has a potential increase of 26.48% from where the PAYS share price has been trading recently which is between $11.3669 and $12.44. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $14. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $16.
During the recent trading session for PaySign, Inc. (NASDAQ:PAYS), the company witnessed their stock rise $1.47 over a week and surge $1.15 from the price 20 days ago. When compared to their established 52-week high of $18.67, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/19/19. The recent low of $3.15 stood for a -36.48% since 12/27/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.76 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for PAYS is set at $15, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for PaySign, Inc., the two-week RSI stands at 59.62. This figure suggests that PAYS stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current PAYS readings is similarly very revealing as it has a stochastic reading of 81.67% at this stage. This figure means that PAYS share price today is being oversold.
Technical chart claims that PaySign, Inc. (PAYS) would settle between $12.63/share to $13.07/share level. However, if the stock price goes below the $11.56 mark, then the market for PaySign, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $10.93 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.88. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at BTIG Research raised their recommendation on shares of PAYS from Sell to Neutral in their opinion released on August 06. BTIG Research analysts have lowered their rating of PaySign, Inc. (NASDAQ:PAYS) stock from Neutral to Sell in a separate flash note issued to investors on July 22. Analysts at Canaccord Genuity, made their first call for the equity with a Buy recommendation, according to a research note that dated back to July 02.
PAYS equity has an average rating of 2.25, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated PaySign, Inc. (NASDAQ:PAYS) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, PAYS stock price is currently trading at 40.63X forward 12-month Consensus EPS estimates, and its P/E ratio is 110.8 while for the average stock in the same group, the multiple is 56. PaySign, Inc. current P/B ratio of 34.8 means it is trading at a premium against its industry’s 6.1.
PaySign, Inc. (PAYS)’s current-quarter revenues are projected to climb by nearly 71% to hit $11.74 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 56.4% from $23.42 million to a noteworthy $36.64 million. At the other end of the current quarter income statement, PaySign, Inc. is expected to see its adjusted earnings surge by roughly 200% to hit $0.06 per share. For the fiscal year, PAYS’s earnings are projected to climb by roughly 88.9% to hit $0.17 per share.