Paymentus price target raised to $22 from $20 at Baird

Baird analyst David Koning raised the firm’s price target on Paymentus to $22 from $20 and keeps a Neutral rating on the shares. The firm said they expect Q1 results to mildly beat; they like recent beat/raise pattern and high incremental margins; and they view as good value around $20, given its stable model, great incremental margins, and strong quality of earnings.