Paymentus downgraded to Peer Perform from Outperform at Wolfe Research

Wolfe Research analyst Darren Peller downgraded Paymentus to Peer Perform from Outperform without a price target. The analyst cites the stock’s relative valuation and lack of near-term catalysts for the downgrade. There is "minimal support" at the current valuation given the company’s lack of near-term catalysts, the analyst tells investors in a research note. The firm’s has a $9-$10 fair value range for Paymentus.