FlexShopper (NASDAQ:FPAY) Releases Earnings Results, Beats Expectations By $0.02 EPS

FlexShopper (NASDAQ:FPAY) issued its quarterly earnings results on Tuesday. The financial services provider reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02, Zacks reports. FlexShopper had a negative net margin of 3.51% and a negative return on equity of 58.72%. The business had revenue of $31.76 million during the quarter, compared to analyst estimates of $31.00 million.

FlexShopper Stock Performance

FPAY remained flat at $1.06 during trading on Wednesday. 7,070 shares of the company’s stock were exchanged, compared to its average volume of 49,525. The firm has a fifty day moving average of $1.16 and a two-hundred day moving average of $1.18. The company has a debt-to-equity ratio of 19.16, a current ratio of 13.70 and a quick ratio of 13.70. FlexShopper has a 12-month low of $0.75 and a 12-month high of $2.14. The firm has a market cap of $23.06 million, a price-to-earnings ratio of -3.31 and a beta of 1.33.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $2.50 target price on shares of FlexShopper in a report on Wednesday, May 15th.

Insiders Place Their Bets

In other FlexShopper news, Director Howard Dvorkin bought 64,054 shares of the stock in a transaction on Friday, June 7th. The stock was purchased at an average price of $1.12 per share, with a total value of $71,740.48. Following the acquisition, the director now owns 4,390,299 shares of the company’s stock, valued at $4,917,134.88. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders acquired 211,386 shares of company stock valued at $240,518. Company insiders own 36.70% of the company’s stock.

About FlexShopper

FlexShopper, Inc, a financial technology company, operates an e-commerce marketplace to shop electronics, home furnishings, and other durable goods on a lease-to-own (LTO) basis. The company offers consumer electronics; home appliances; computers, such as tablets and wearables; smartphones; tires; and jewelry and furniture, including accessories.