FlexShopper (FPAY) Secures Nasdaq Extension, Eyes Upward Momentum in Stocks

FlexShopper (FPAY) has secured a 180-day extension from Nasdaq to meet the requirements of Listing Rule 5250(c)(1). The company has obtained additional time to fulfill its obligations and maintain its listing status on Nasdaq. Analysts forecast an average target price of $3.25 with a high estimate of $4.00 and a low estimate of $2.50, implying an upside of 177.78% from the current price of $1.17. The average brokerage recommendation is 2.0, indicating an "Outperform" status.

FlexShopper Inc. (FPAY), trading on the Nasdaq, has secured a 180-day extension from Nasdaq to meet the requirements of Listing Rule 5250(c)(1). This rule mandates the timely submission of all periodic financial reports to the U.S. Securities and Exchange Commission. The extension provides FlexShopper additional time to fulfill these obligations and maintain its listing status on Nasdaq [1].

Wall Street analysts have provided a positive outlook on FlexShopper. Based on the one-year price targets offered by 2 analysts, the average target price for FlexShopper Inc. (FPAY) is $3.25, with a high estimate of $4.00 and a low estimate of $2.50. This average target implies an upside of 177.78% from the current price of $1.17 [1]. The average brokerage recommendation from 2 brokerage firms is currently 2.0, indicating an "Outperform" status [1].

The consensus rating from analysts is mixed, with 1 analyst rating FlexShopper as a Moderate Buy, and another rating it as a Hold [2]. Analysts note significant financial challenges, including persistent net losses and high leverage, but also see potential growth opportunities from a credit agreement amendment [2]. The average 12-month price target is $2.50, representing an 113.68% increase from the current price of $1.17 [2].

FlexShopper's earnings and sales forecasts for the next quarter are $0.00 and $37.61M, respectively, with a range of -$0.04 to $0.04 for earnings and $34.44M to $39.29M for sales [2]. The company has historically outperformed its overall industry in terms of earnings and sales estimates.

In conclusion, FlexShopper's Nasdaq listing extension and the positive analyst forecasts suggest potential upside for the stock. However, investors should be aware of the company's significant financial challenges and closely monitor its progress.

References:
[1] https://www.gurufocus.com/news/2949212/flexshopper-fpay-secures-nasdaq-extension-for-compliance-fpay-stock-news
[2] https://www.tipranks.com/stocks/fpay/forecast