Why VeriFone Systems (PAY) Stock Is Gaining Today

NEW YORK (TheStreet) -- Shares of VeriFone Systems Inc  (PAY) are up 2.98% to $35.57 today after the credit card swipe machine maker reported better than expected revenue and earnings for its third quarter with 40 cents per share, beating the 35 cents per share analysts expected, and higher than the 24 cents per share one year ago.

The company reported a 14.4% net revenue increase for the quarter to $475.9 million from $416 million in the same quarter of last year, and above the $458.93 million analysts expected.

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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."

PAY Chart PAY data by YCharts

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