FlexShopper (NASDAQ:FPAY) Stock Price Expected to Rise, Maxim Group Analyst Says

FlexShopper (NASDAQ:FPAY) had its target price upped by equities research analysts at Maxim Group from $2.00 to $4.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Maxim Group’s price target would indicate a potential upside of 162.30% from the stock’s current price.

Separately, HC Wainwright restated a “buy” rating and issued a $2.50 price objective on shares of FlexShopper in a report on Friday.

FlexShopper Price Performance

Shares of FPAY stock opened at $1.53 on Friday. The firm has a market cap of $32.73 million, a price-to-earnings ratio of -6.63 and a beta of 1.33. FlexShopper has a 12 month low of $0.97 and a 12 month high of $1.95. The company has a quick ratio of 15.78, a current ratio of 15.78 and a debt-to-equity ratio of 28.90. The stock has a 50-day moving average price of $1.21 and a 200 day moving average price of $1.16.

Hedge Funds Weigh In On FlexShopper

Hedge funds have recently added to or reduced their stakes in the stock. Heron Bay Capital Management acquired a new position in shares of FlexShopper during the 1st quarter worth about $43,000. Renaissance Technologies LLC grew its holdings in FlexShopper by 30.0% during the second quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 50,847 shares during the period. Insigneo Advisory Services LLC bought a new stake in FlexShopper in the second quarter valued at approximately $58,000. Finally, Waterfall Asset Management LLC bought a new stake in FlexShopper in the third quarter valued at approximately $1,678,000. Institutional investors and hedge funds own 19.41% of the company’s stock.

FlexShopper Company Profile

FlexShopper, Inc, a financial technology company, operates an e-commerce marketplace to shop electronics, home furnishings, and other durable goods on a lease-to-own (LTO) basis. The company offers consumer electronics; home appliances; computers, such as tablets and wearables; smartphones; tires; and jewelry and furniture, including accessories.