NEW YORK (TheStreet) -- Shares of VeriFone Systems Inc
(PAY - Get Report) are down -0.91% to $34.73 after the credit-card swipe machine maker was downgraded to "market perform" from "outperform" at Raymond James
(RJF) this morning, despite reporting better than expected third quarter earnings yesterday.
Analysts at the firm cited valuation and ongoing reinvestments that limit upside profitability.
Raymond James removed its $39 price target on the shares.
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Separately, TheStreet Ratings team rates VERIFONE SYSTEMS INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate VERIFONE SYSTEMS INC (PAY) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and increase in net income. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and weak operating cash flow."
data by YCharts
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