Shares of Paysign (NASDAQ:PAYS) have seen a significant increase of over 61% in the past year. The financial services company, which offers prepaid card programs, patient affordability services, integrated payment processing, and digital banking, is experiencing continued growth across all its business segments. Analysts and individual investors alike have a positive outlook on the company, with a notable increase in the number of portfolios holding PAYS stock in the last 30 days.
Paysign had a strong start to 2024, with a 30% year-over-year increase in revenue and a remarkable 135% jump in adjusted EBITDA. Key performance indicators like gross dollar load volume and gross spend volume also showed improvement in the first quarter. The company’s Patient Affordability business, in particular, is driving revenue and earnings growth, with management noting its rapid expansion during the Q1 conference call.
Analysts are optimistic about Paysign’s future, with a Strong Buy consensus rating and an average price target of $6.17, representing a potential upside of 49.39% from current levels. Barrington analyst Gary Prestopino reiterated a Buy rating on PAYS stock and raised the price target to $7, anticipating a 69.49% upside potential.
In conclusion, Paysign is poised for continued financial success, driven by the momentum in its Patient Affordability business. With analysts projecting further upside for PAYS stock, investors may find it beneficial to explore more opportunities using TipRanks’ penny stock screener.