Shift4 Payments Stock Surges After CEO Purchase and Analyst Upgrades
Shift4 Payments, Inc. (FOUR) shares are experiencing a significant surge, climbing over 20% in the past five days. This upward trend follows several key developments, including a substantial purchase of shares by CEO Jared Isaacman and positive adjustments to price targets by several Wall Street analysts.
On Tuesday, Isaacman acquired 85,916 shares at an average price of $67.09, increasing his total ownership to 582,827 shares. This significant purchase demonstrates the CEO's confidence in the company's future prospects and has likely contributed to the recent stock price increase.
Furthermore, several analysts have revised their price targets upwards following the company's first-quarter earnings report last Thursday. While the reported revenue of $707.4 million fell short of analyst expectations, subscription and payments-based revenue both saw notable increases compared to the same period last year.
In response to these developments, analysts from Morgan Stanley, Wells Fargo, and Mizuho have all raised their price targets for FOUR stock. Morgan Stanley maintained its Equal-Weight rating but increased its target from $70 to $66. Wells Fargo analyst Andrew Bauch maintained his Overweight rating but lowered the target from $100 to $75. Mizuho analyst Dan Dolev maintained a Buy rating but lowered the target from $85 to $75.
The average 12-month price target for FOUR stock currently sits at $86.18, with a high of $105 and a low of $53. The majority of analysts covering the stock have positive ratings, suggesting further potential for upward movement.
While past performance is not indicative of future results, the recent developments and analyst sentiment suggest that Shift4 Payments stock could continue its upward trajectory. However, it's important to remember that the stock market is inherently volatile, and investors should always conduct their own research before making any investment decisions.