Repay Holdings Corporation (RPAY) shares plummeted 15.73% in the pre-market trading session on Tuesday, following multiple analysts' downgrades and significant 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 substantial price target cuts suggest that they expect the company's performance to be weaker than previously anticipated. The analysts' actions raised concerns among investors and likely contributed significantly to the sharp pre-market decline in Repay Holdings' stock price.
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