FlexShopper Inc (NASDAQ:FPAY) Given $3.00 Average Price Target by Analysts

Shares of FlexShopper Inc (NASDAQ:FPAY) have earned a consensus broker rating score of 2.00 (Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating.

Brokerages have set a 1 year consensus price target of $3.00 for the company, according to Zacks. Zacks has also assigned FlexShopper an industry rank of 72 out of 256 based on the ratings given to related companies.

Separately, Ascendiant Capital Markets assumed coverage on FlexShopper in a research note on Tuesday, April 9th. They issued a “buy” rating and a $3.00 target price for the company.

Shares of NASDAQ FPAY traded up $0.03 during mid-day trading on Friday, hitting $1.65. The company had a trading volume of 2,427 shares, compared to its average volume of 186,883. FlexShopper has a 1 year low of $0.66 and a 1 year high of $4.10. The business’s 50-day simple moving average is $1.11.

FlexShopper (NASDAQ:FPAY) last announced its quarterly earnings results on Tuesday, May 7th. The financial services provider reported ($0.01) earnings per share for the quarter. The firm had revenue of $22.73 million during the quarter.

In related news, Director Howard Dvorkin bought 61,119 shares of the stock in a transaction dated Tuesday, June 25th. The stock was bought at an average price of $1.05 per share, with a total value of $64,174.95. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders bought 259,524 shares of company stock valued at $234,045. 28.20% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC bought a new position in FlexShopper during the 4th quarter valued at approximately $46,000. Virtu Financial LLC bought a new position in FlexShopper during the 1st quarter valued at approximately $47,000. Finally, Perkins Capital Management Inc. raised its position in FlexShopper by 54.1% during the 1st quarter. Perkins Capital Management Inc. now owns 766,000 shares of the financial services provider’s stock valued at $627,000 after purchasing an additional 269,000 shares during the last quarter. 10.98% of the stock is owned by institutional investors.

About FlexShopper

FlexShopper, Inc, through its wholly owned subsidiary, FlexShopper, LLC operates as an online lease-to-own (LTO) retailer and LTO payment solution provider. The company provides residential furniture, consumer electronics, computers, appliances, household accessories, and various other durable goods to consumers on a LTO basis to consumers of third-party retailers and e-tailers.

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