Paymentus Holdings (NYSE:PAY) skyrocketed in trading after announcing blowout fourth-quarter results. The provider of cloud-based bill payment technology reported adjusted earnings of $0.11 per share and surpassed Street estimates of $0.05 per share.
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The company generated revenues of $164.8 million in the fourth quarter, an increase of 24.7% year-over-year, but still fell short of consensus estimates of $172.4 million.
Looking forward to the first quarter, PAY has projected revenues of between $170 million and $176 million, with adjusted EBITDA likely to range from $15 million to $17 million. For FY24, PAY estimates to generate revenues in the range of $720 million to $744 million, while adjusted EBITDA is forecasted to land between $65 million and $75 million. The FY24 adjusted EBITDA estimate is higher than analysts’ estimate of $64.3 million.
Is PAY a Buy?
Only two analysts have covered PAY stock over the past three months, with each assigning a Hold rating. However, PAY stock has skyrocketed by more than 94% over the past year, and the average PAY price target of $18 implies an upside potential of 10.1% at current levels. However, it’s worth noting that estimates will likely change following today’s earnings report.
