Shares of CardConnect Corp (NASDAQ:CCN) have earned an average rating of “Buy” from the seven analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $16.17.
CCN has been the topic of several research reports. Zacks Investment Research cut shares of CardConnect Corp from a “hold” rating to a “sell” rating in a research report on Tuesday, April 11th. Cowen and Company downgraded CardConnect Corp from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $17.00 to $15.00 in a report on Tuesday, May 30th. Finally, Craig Hallum downgraded CardConnect Corp from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a report on Tuesday, May 30th.
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CardConnect Corp (NASDAQ CCN) opened at 15.05 on Tuesday. CardConnect Corp has a 12-month low of $8.14 and a 12-month high of $15.25. The firm’s 50-day moving average is $14.69 and its 200 day moving average is $13.83.
CardConnect Corp (NASDAQ:CCN) last issued its quarterly earnings results on Wednesday, May 10th. The business services provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by $0.02. The business had revenue of $156.65 million for the quarter, compared to analysts’ expectations of $41.10 million. Equities analysts forecast that CardConnect Corp will post $0.45 EPS for the current year.
A number of hedge funds have recently bought and sold shares of CCN. Gamco Investors INC. ET AL bought a new stake in CardConnect Corp during the second quarter valued at about $222,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in CardConnect Corp during the second quarter valued at about $2,230,000. Bank of New York Mellon Corp bought a new stake in CardConnect Corp during the second quarter valued at about $547,000. Rhumbline Advisers bought a new stake in CardConnect Corp during the second quarter valued at about $224,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in CardConnect Corp during the second quarter valued at about $372,000. Hedge funds and other institutional investors own 31.59% of the company’s stock.
CardConnect Corp Company Profile
CardConnect Corp., formerly FinTech Acquisition Corp., is a holding company. The Company holds interests in CardConnect, LLC. The Company is a provider of payment processing solutions to merchants throughout the United States. The Company’s segments include Merchant Acquiring Services and Other. The Company’s platform allows it to provide payment solutions, customer support and tools for its distribution partners and merchants.
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