Zacks Investment Research Upgrades CardConnect Corp. (CCN) to “Buy”

Zacks Investment Research Upgrades CardConnect Corp. (CCN) to “Buy”

CardConnect Corp. (NASDAQ:CCN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a $15.00 target price on the stock. Zacks Investment Research’s target price would indicate a potential upside of 9.49% from the company’s previous close.

According to Zacks, “CardConnect Corp. provides payment processing and technology solutions primarily in the United States. The company offers CardPointe, a reporting and transaction management portal which provides mobile, terminal and integrated payment solutions; CardSecure, a gateway integrated with the Oracle, SAP and JD Edwards ERP systems which secures transactions through data breach protection and PCI scope reduction. It serves small-to-midsize businesses, related mobile app as well as enterprise-level organizations. CardConnect Corp. is headquartered in King of Prussia, Pennsylvania. “

Other equities analysts have also issued research reports about the company. BTIG Research set a $14.00 price objective on CardConnect Corp. and gave the stock a “buy” rating in a report on Sunday, November 6th. Cowen and Company began coverage on CardConnect Corp. in a report on Tuesday, November 22nd. They set an “outperform” rating and a $13.00 price objective on the stock. Cantor Fitzgerald set a $12.00 price objective on CardConnect Corp. and gave the stock a “buy” rating in a report on Friday, November 11th. Finally, William Blair reissued an “outperform” rating on shares of CardConnect Corp. in a report on Friday, January 6th. Six research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $14.20.

CardConnect Corp. (NASDAQ:CCN) opened at 13.70 on Thursday. CardConnect Corp. has a 12-month low of $8.14 and a 12-month high of $14.55. The firm’s market cap is $393.89 million. The company has a 50-day moving average price of $13.43 and a 200-day moving average price of $10.67.

CardConnect Corp. (NASDAQ:CCN) last issued its quarterly earnings data on Thursday, November 10th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.09. The firm had revenue of $154 million for the quarter, compared to analysts’ expectations of $153.70 million. On average, equities analysts predict that CardConnect Corp. will post $0.38 earnings per share for the current year.

CardConnect Corp. Company Profile

CardConnect Corp., formerly FinTech Acquisition Corp., is a provider of payment processing and technology solutions. The Company has developed advanced payment solutions using point-to-point encryption (P2PE) and tokenization. The Company’s small-to-midsize business offering, CardPointe, is a platform that includes a reporting and transaction management portal, which extends to a native mobile application.

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