BofA analyst Jason Kupferberg raised the firm’s price target on Shift4 Payments (FOUR) to $112 from $100 and keeps a Buy rating on the shares. The firm notes Shift4 unexpectedly missed and guided down on volumes due to softening of restaurant/hospitality consumer spending, weather, and slower-than-expected pace of international expansion. However, shares are down modestly after a big run, and BofA thinks it is likely because low end of Q4 revenues and adjusted EBITDA guide were slightly up-ticked, volume backlog of $33B was up 32% quarter-over-quarter, annualization of Q4 adjusted EBITDA is already in-line with 2025 consensus, and factor-based rotation favoring SMID cap names today.
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Read More on FOUR:
- Morning Movers: Shopify surges and Shift4 sinks following Q3 results
- Shift4 Payments sees Q4 adjusted EBITDA $205M-$216M
- Shift4 Payments sees FY24 adjusted EBITDA $677M-$688M
- Shift4 Payments reports Q3 adjusted EPS $1.04, consensus $1.07
- Notable companies reporting before tomorrow’s open
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