FlexShopper (NASDAQ:FPAY) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

FlexShopper (NASDAQ:FPAY) posted its quarterly earnings results on Tuesday. The financial services provider reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02, Zacks reports. FlexShopper had a negative net margin of 3.51% and a negative return on equity of 58.72%. The company had revenue of $31.76 million for the quarter, compared to analyst estimates of $31.00 million.

FlexShopper Stock Performance

FlexShopper stock remained flat at $1.06 during midday trading on Wednesday. 7,070 shares of the company were exchanged, compared to its average volume of 49,525. The firm has a 50 day simple moving average of $1.16 and a two-hundred day simple moving average of $1.18. The company has a current ratio of 13.70, a quick ratio of 13.70 and a debt-to-equity ratio of 19.16. The stock has a market cap of $23.06 million, a price-to-earnings ratio of -3.31 and a beta of 1.33. FlexShopper has a twelve month low of $0.75 and a twelve month high of $2.14.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $2.50 price target on shares of FlexShopper in a research report on Wednesday, May 15th.

Insider Buying and Selling

In other news, Director Howard Dvorkin bought 64,054 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average price of $1.12 per share, with a total value of $71,740.48. Following the acquisition, the director now owns 4,390,299 shares of the company’s stock, valued at approximately $4,917,134.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have bought 211,386 shares of company stock valued at $240,518. Company insiders own 36.70% of the company’s stock.

FlexShopper Company Profile

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.