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Paya Analyst Favours Nuvei Takeover Deal At Slight Discount

Anusuya Lahiri
·1 min read

  • DA Davidson analyst Peter Heckmann had Buy on Paya Holdings Inc (NASDAQ: PAYA) and a price target of $10.00.

  • Nuvei Corp (NASDAQ: NVEI) agreed to acquire Paya in an all-cash transaction at $9.75 per share for total consideration of approximately $1.3 billion.

  • The proposed purchase price represents a 25% premium to Paya's closing share price on Friday.

  • Heckmann viewed the deal positively, though the purchase price represents a slight discount to the analyst's $10 price target.

  • The implied transaction multiple represents an enterprise value of approximately 16 times Heckmann's 2023 forecast for an adjusted EBITDA of $85.

  • Paya ended the 3Q with $156 million in cash and $248 million in debt, representing net leverage of approximately 1.3 times trailing EBITDA.

  • Price Action: PAYA shares traded higher by 24.33% at $9.69 on the last check Monday.

Latest Ratings for PAYA

Date

Firm

Action

From

To

Mar 2022

Morgan Stanley

Maintains

Equal-Weight

Mar 2022

Credit Suisse

Maintains

Outperform

Mar 2022

Raymond James

Maintains

Outperform

View More Analyst Ratings for PAYA

View the Latest Analyst Ratings

See more from Benzinga

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© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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