VeriFone Holdings, Inc. (PAY) Message Board

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Technology Stocks : VeriFone Holdings, Inc. (PAY)

PAY 28.57

-0.1%

Nov 3 3:59 PM EST

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From: JakeStraw	3/11/2015 1:28:32 PM
	of 186

Down AH yesterday on account of the soft FQ2/FY15 guidance (caused in large part by forex) provided with its FQ1 beat, VeriFone (NYSE:PAY) is now up strongly. Likely helping the point-of-sale hardware/software vendor's cause: It disclosed on its CC (transcript) Starbucks (an existing client) has begun implementing VeriFone PIN pads in North America that support EMV (chip-and-PIN) payment cards. During the Q&A, VeriFone admitted the deal is much less lucrative than one involving fully-fledged payment terminals (rather than PIN pads), but added cross-selling opportunities might exist. EMV payments, already ubiquitous in much of Europe, are set to grow rapidly in the U.S. following a slew of data breaches involving traditional magnetic card-swipe terminals. JPMorgan (Overweight) is pleased with VeriFone's strong FQ1 North American sales growth, which it chalks up to both EMV upgrades and share gains. "CEO tone on transformation and pace/receptivity of new product roll outs sounded quite positive, and we like that PAY isn’t sacrificing investments in response to macro/FX pressure." Wedbush (Outperform): "We believe VeriFone will sustain high-single-digit (constant currency) revenue growth and mid-teen earnings growth based on healthy global market growth, 2-3 year EMV/NFC cycle and 3-5 years of margin improvements." RBC (Sector Perform, but with a $40 target): "The company continues to benefit from an upgrade cycle in the US, which lends credence to future earnings acceleration, while management continues to rationalize the business and invest strategically." seekingalpha.com

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