UPDATE: Barrington Research Starts Payment Data Systems, Inc. (PYDS) at Outperform

(updated to add price target and analyst comment)

Barrington Research analyst Gary Prestopino initiates coverage on Payment Data Systems, Inc. (NASDAQ: PYDS) with a Outperform rating, price target $5.00.

The analyst believes the company is an emerging provider of technology driven electronic payment processing solutions. He says the name is an undiscovered micro-cap stock with a disruptive offering in the PayFac platform and sees the stock as undervalued relative to the possible buy-out multiple.

For an analyst ratings summary and ratings history on Payment Data Systems, Inc. click here. For more ratings news on Payment Data Systems, Inc. click here.

Shares of Payment Data Systems, Inc. closed at $2.24 yesterday.

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