Cantor Fitzgerald Reiterates a Buy Rating on CardConnect Corp

By Carrie Williams

In a report released today, Joseph Foresi from Cantor Fitzgerald reiterated a Buy rating on CardConnect Corp (NASDAQ: CCN), with a price target of $12. The company’s shares opened today at $9.50.

Foresi said:

“Foresi’s Take. Adj. EBITDA margin was above the company’s target, leading to solid adjusted earnings, but a one-time charge of $21 mn associated with a merger before going public led to a reported loss. Management noted the pipeline is as large as it has ever been and is very positive regarding the trends heading into next year.”

According to TipRanks.com, Foresi is ranked 0 out of 5 stars with an average return of -7.6% and a 31.1% success rate. Foresi covers the Technology sector, focusing on stocks such as Automatic Data Processing, Fidelity National Info, and Computer Sciences.

CardConnect Corp has an analyst consensus of Moderate Buy.

CardConnect Corp’s market cap is currently $44.62M and has a P/E ratio of 366.80. The company has a book value ratio of 8.9245.

CardConnect Corp. is engaged in the the business of payment and technology solutions. It involves in the development of advanced payment solutions with patented, PCI-certified point-to-point encryption and tokenization. The company operates through the CardPointe and CardSecure brands. The CardPointe brand offers small-to-medium business a platform that includes a reporting and transaction management portal which extends to a native mobile applications. The CardSecure brand is the solution offered to enterprise-level organizations as in integrated omni-channel payment acceptance into popular ERP systems such as Oracle, SAP, JD Edwards, and Infor M3-in a way that minimizes PCI compliance requirements and lowers transaction costs. CardConnect was founded in 2006 and is headquartered in King of Prussia, PA.