Berenberg Capital Markets analysts had some positive words to say about Shift4 Payments (NYSE:FOUR) after it scored a Buy rating in its new coverage. The analyst pointed to the company’s growth despite the prevailing downturn in the fintech industry. Shift4, which offers secure payment processing solutions, has been able to beat the industry-wide slump and post robust growth in payment volume. According to the analysts, the company’s ability to increase market share in challenging market conditions is what sold them.
“We believe a wide gap exists between FOUR’s strong growth prospects and the stock’s discount valuation, a divergence that may be due to questions about the sustainability of its above-market operating performance or to concerns about macroeconomic headwinds faced by the consumer-facing businesses the company serves,” analyst Mark Palmer said in a note to clients.
True to what the analysts said, Shift4 has been up and about recently. The company just partnered with Amazon (NASDAQ:AMZN) to introduce checkout-free shopping at large venues. In the longer term, the company has announced plans to further expand its business through ticketing services for large venues and cross-border payments.
What is the Price Prediction for Shift4 Payments?
Turning to Wall Street, analysts have a Strong Buy consensus rating on FOUR stock based on 15 Buys, one Hold, and zero Sells assigned in the past three months, as indicated by the graphic above. Furthermore, the average price target of $83.63 per share implies a 52.67% upside potential.
