Repay Holdings Corporation (RPAY) shares plummeted 7.87% in the pre-market trading session on Tuesday, following multiple analysts' downgrades and price target cuts for the stock.
Several analysts from firms like DA Davidson, Benchmark, UBS, and Stephens & Co. lowered their price targets on Repay Holdings, citing concerns about the company's prospects. The price target reductions ranged from $7.50 to $12, reflecting a more cautious outlook from analysts.
While some analysts maintained their "Buy" or "Overweight" ratings on the stock, the price target cuts suggest that they expect the company's performance to be weaker than previously anticipated. The analysts' actions could be a significant factor contributing to the pre-market plunge in Repay Holdings' stock price.
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