FlexShopper Inc . (NASDAQ:FPAY), a leading provider of lease-to-own purchase solutions, has reached a 52-week high, with its stock price climbing to $1.96. According to InvestingPro data, the company maintains a "GOOD" overall financial health score of 2.5, despite currently trading slightly above its Fair Value. This milestone reflects a significant uptrend in the company's market performance, with InvestingPro data showing impressive returns of 62.28% over the past six months and 45.67% over the last year. Investors have shown growing confidence in FlexShopper's business model and strategic initiatives, which have been pivotal in driving the stock to this new high, though analysts note the company may face profitability challenges in the coming year. The company's focus on expanding its online presence and enhancing customer experience has paid off, with revenue growing 24.46% in the last twelve months. While investor interest remains high, InvestingPro subscribers have access to 12 additional exclusive tips and comprehensive analysis through the Pro Research Report, offering deeper insights into FPAY's financial outlook and market position.
In other recent news, FlexShopper has been the focus of various financial analyses due to its robust Q3 results. The company's third-quarter performance saw revenues of $38.6 million, surpassing H.C. Wainwright's estimate of $37.7 million. This increase was accompanied by a notable improvement in payment performance and the highest gross margin recorded by H.C. Wainwright since they began tracking the company in 2017.
FlexShopper's business-to-business segment also showed significant growth, with the number of signed stores reaching 7,800, marking a 250% increase since the start of the year. The company is expected to continue its growth trajectory, with new store locations anticipated to contribute to lease originations in 2025.
On the other hand, FlexShopper's third quarter 2024 earnings call revealed a 23% rise in total revenue, reaching $39 million, and a 45% increase in adjusted EBITDA, amounting to over $12 million. Net income for common stockholders was $1.2 million, or $0.05 per diluted share.
These are recent developments that highlight the company's robust financial performance and strategic growth initiatives. H.C. Wainwright maintained a Buy rating on FlexShopper shares, with a steady price target of $2.50, recognizing the company's consistent performance.
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