Maxim Group Increases FlexShopper (NASDAQ:FPAY) Price Target to $4.00

FlexShopper (NASDAQ:FPAY) had its price objective raised by stock analysts at Maxim Group from $2.00 to $4.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Maxim Group’s price objective indicates a potential upside of 162.30% from the stock’s current price.

Separately, HC Wainwright reiterated a “buy” rating and issued a $2.50 price target on shares of FlexShopper in a report on Friday.

FlexShopper Price Performance

Shares of FPAY opened at $1.53 on Friday. The stock has a 50 day simple moving average of $1.21 and a 200 day simple moving average of $1.16. FlexShopper has a 52-week low of $0.97 and a 52-week high of $1.95. The company has a debt-to-equity ratio of 28.90, a quick ratio of 15.78 and a current ratio of 15.78. The firm has a market capitalization of $32.73 million, a PE ratio of -6.63 and a beta of 1.33.

Institutional Trading of FlexShopper

A number of institutional investors have recently modified their holdings of the company. Heron Bay Capital Management acquired a new stake in shares of FlexShopper in the first quarter valued at approximately $43,000. Insigneo Advisory Services LLC bought a new position in FlexShopper in the second quarter valued at $58,000. Renaissance Technologies LLC increased its stake in FlexShopper by 30.0% in the 2nd quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock valued at $282,000 after buying an additional 50,847 shares during the last quarter. Finally, Waterfall Asset Management LLC bought a new stake in FlexShopper during the 3rd quarter worth about $1,678,000. 19.41% of the stock is currently owned by institutional investors.

About FlexShopper

FlexShopper, Inc, a financial technology company, operates an e-commerce marketplace to shop electronics, home furnishings, and other durable goods on a lease-to-own (LTO) basis. The company offers consumer electronics; home appliances; computers, such as tablets and wearables; smartphones; tires; and jewelry and furniture, including accessories.