Piper Sandler analyst Clarke Jeffries assumed coverage of Shift4 Payments with an Overweight rating and $69 price target. Shift4 provides a payments acceptance and processing platform that serves 200,000-plus customers across the food and beverage, hospitality, retail, gaming, and sports/ entertainment industries, Jeffries tells investors in a research note. The analyst believes the company has been successful in converting customers to its end-to-end payments offering, thus moving away from lower-yield payment gateway volumes. The end-to-end strategy is a "powerful driver" of Shift4’s economics and could continue to fuel faster than industry growth, despite macroeconomic headwinds, Jeffries writes.
Published first on TheFly
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