Jefferies Downgrades Verifone to Hold

By Carrie Williams

Verifone (NYSE: PAY) received a Hold rating from Jefferies analyst Ramsey El Assal today. The company’s shares closed on Friday at $22.77, close to its 52-week high of $22.87.

According to TipRanks.com, Assal is a 5-star analyst with an average return of 22.3% and a 74.4% success rate. Assal covers the Technology sector, focusing on stocks such as Global Payments Inc, Paypal Holdings, and Square Inc.

Currently, the analyst consensus on Verifone is Hold and the average price target is $23.02, representing a 1.1% upside.

In a report issued on April 10, SunTrust Robinson also downgraded the stock to Hold with a $23 price target.

The company has a one-year high of $22.87 and a one-year low of $14.90. Currently, Verifone has an average volume of 2.3M.

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VeriFone Systems, Inc. engages in manufacturing and distributing electronic payment devices. It offers Payment Services, Device Services, Merchant Marketplace, Omnichannel Commerce, and Developer Central. The company was founded on June 13, 2002 and is headquartered in San Jose, CA.