Cantor Fitzgerald Initiates Coverage on CardConnect Corp. (CCN)
Analysts at Cantor Fitzgerald started coverage on shares of CardConnect Corp. (NYSE:CCN) in a research report issued to clients and investors on Thursday. The brokerage set a “buy” rating and a $12.00 price target on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 22.82% from the stock’s current price.
Several other research firms have also recently issued reports on CCN. BTIG Research initiated coverage on CardConnect Corp. in a research note on Friday, September 23rd. They issued a “buy” rating and a $14.00 target price on the stock. Piper Jaffray Cos. initiated coverage on CardConnect Corp. in a research note on Friday, August 12th. They issued an “overweight” rating and a $14.00 target price on the stock.
Shares of CardConnect Corp. (NYSE:CCN) opened at 9.77 on Thursday. The stock has a 50 day moving average price of $9.94 and a 200 day moving average price of $10.00. CardConnect Corp. has a 52 week low of $8.14 and a 52 week high of $11.56. The stock has a market capitalization of $84.12 million and a P/E ratio of 21.86.
In other news, insider Brian Shanahan acquired 100,000 shares of the business’s stock in a transaction on Friday, July 29th. The shares were acquired at an average cost of $10.00 per share, with a total value of $1,000,000.00. Following the transaction, the insider now owns 100,000 shares in the company, valued at approximately $1,000,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
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