Imperial Capital Reaffirms Their Hold Rating on Verifone

By Austin Angelo

In a report released today, Saliq Khan from Imperial Capital reiterated a Hold rating on Verifone (NYSE: PAY), with a price target of $19. The company’s shares closed yesterday at $18.25.

According to TipRanks.com, Khan is ranked #4430 out of 4567 analysts.

Currently, the analyst consensus on Verifone is Hold and the average price target is $19.67, representing a 7.8% upside.

In a report issued on June 9, RBC Capital also reiterated a Hold rating on the stock with a $20 price target.

Based on Verifone’s latest earnings report for the quarter ending April 30, the company posted quarterly revenue of $474 million and GAAP net loss of $89.3 million. In comparison, last year the company earned revenue of $526 million and had a net profit of $2.9 million.

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VeriFone Systems, Inc. manufactures and distributes electronic payment devices. It provides expertise, solutions and services, which add value to the point of sale and enable innovative forms of commerce. The company operates its business through the following segments: Americas, EMEA, and Asia-Pacific. The Americas segment includes its operations in North America, South America, Central America and the Caribbean. The EMEA segment includes its operations in Europe, Russia, the Middle East, and Africa. The Asia-Pacific segment consists of its operations in Australia, New Zealand, China, India and throughout the rest of Greater Asia, including other Asia-Pacific Rim countries. VeriFone Systems was founded on June 13, 2002 and is headquartered in San Jose, CA.