Canaccord Genuity Group Reiterates “Speculative Buy” Rating for CAB Payments (LON:CABP)

CAB Payments (LON:CABP)‘s stock had its “speculative buy” rating reissued by equities research analysts at Canaccord Genuity Group in a note issued to investors on Thursday,London Stock Exchange reports. They currently have a GBX 105 ($1.29) target price on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 61.54% from the company’s current price.

Separately, Shore Capital restated a “buy” rating on shares of CAB Payments in a research note on Thursday, November 7th.

CAB Payments Stock Performance

LON CABP traded down GBX 1.60 ($0.02) during trading on Thursday, reaching GBX 65 ($0.80). The company’s stock had a trading volume of 1,804,518 shares, compared to its average volume of 992,265. The firm has a market cap of £165.01 million and a price-to-earnings ratio of 812.50. CAB Payments has a twelve month low of GBX 60 ($0.73) and a twelve month high of GBX 166.20 ($2.03). The business’s fifty day moving average price is GBX 68.60 and its 200-day moving average price is GBX 95.66.

Insider Transactions at CAB Payments

In related news, insider Susanne Chishti acquired 96,866 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average price of GBX 72 ($0.88) per share, with a total value of £69,743.52 ($85,365.39). Also, insider Ann Cairns purchased 400,000 shares of CAB Payments stock in a transaction on Tuesday, November 12th. The stock was acquired at an average cost of GBX 73 ($0.89) per share, for a total transaction of £292,000 ($357,405.14). Company insiders own 64.28% of the company’s stock.

CAB Payments Company Profile

CAB Payments Holdings plc and its subsidiaries (CAB Payments) is a market leader in business-to-business cross-border payments and foreign exchange, specialising in hard-to-reach markets. CAB Payments uses its strength of network, technology, and expertise to seamlessly move money where it’s needed and is the holding company for Crown Agents Bank, a UK-regulated bank.