Why Shares of Shift4 Payments Are Surging This Week
For the week, shares of the integrated payments company Shift4 Payments (NYSE: FOUR) had jumped more than 19% as of 1:55 p.m. ET Thursday, according to data provided by S&P Global Market Intelligence, after the company reported earnings results. Several Wall Street analysts also raised their price targets on the stock.
For the fourth quarter, Shift4 delivered $0.46 of diluted earnings per share on total revenue of nearly $538 million. While earnings missed consensus estimates, revenue beat slightly.
"Throughout the last year, I emphasized Shift4's track record of performance during both the best and most challenging of economic times," CEO Jared Isaacman wrote in a letter to shareholders. "We have been EBITDA positive for nearly 20 years and self-financed through the first 15 years of our corporate existence."
Source Fool.com
