Paymentus price target raised to $35 from $30 at Wells Fargo

Wells Fargo analyst Andrew Bauch raised the firm’s price target on Paymentus (PAY) to $35 from $30 and keeps an Equal Weight rating on the shares. The firm notes the company delivered a strong Q1 with all KPIs above expects and passing through the beat to full year guide. Wells continues to believe that the full year guide is underscored by specific areas of conservatism.