PaySign Plummets as It Fails to Meet Expectations

This post was originally published on this site —  PaySign (NASDAQ:PAYS) shares sank 28% on Friday after missing profit and revenue estimates for the quarter. 

The earnings per share estimate of 4 cents was met with a breakeven, and revenue of $6.44 million compared to the expected $9.6 million.

“I think that the year-on-year and the quarter three will be similar, a little bit better than quarter two, but more similar than divergent from quarter two,” said Chief Financial Officer Mark Attinger in an earnings call yesterday. On the plus side, he said, “We do expect a strong fourth quarter.” 

The card payment solutions provider is down by more than 50% over the past year. 

Shares have two buy ratings, one hold and no sells, with an average price target of $11.50.