Repay Holdings price target lowered to $8 from $10 at BMO Capital

BMO Capital lowered the firm’s price target on Repay Holdings (RPAY) to $8 from $10 and keeps a Market Perform rating on the shares. The company’s Q4 organic gross profit growth was weaker-than-expected, decelerating sequentially, to 9% y/y from 1% in Q3 as it was negatively impacted by additional client losses vs. Q3 and incremental headwinds in business payments, the analyst tells investors in a research note. BMO adds that it expects some of these headwinds to persist in 2025 before modeling a gradual recovery starting in the second half of the year.