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CPI Card Group

PMTS · NASDAQ

$27.04+$1.15 (+4.44%)TodayMarket closed ·
Prev close $25.89

PMTS analyst rating

BuyConsensus of 3 analysts over the last 12 months. 100% rate it a buy.
  • Strong buy0
  • Buy3
  • Hold0
  • Underperform0
  • Sell0

12-month price target · 6 analysts

Average $33.15 (+22.6% upside)

Low
$30.30
Now
$27.04
High
$35.70

Upgrades and downgrades

The latest rating actions, newest first

PMTS analyst upgrades, downgrades and rating actions
FirmDateActionRating
DA DavidsonAug 11, 2026MaintainsBuy
DA DavidsonJul 7, 2026MaintainsBuy
DA DavidsonJun 25, 2026MaintainsBuy
DA DavidsonMar 11, 2026MaintainsBuy
DA DavidsonFeb 18, 2026MaintainsBuy
B. Riley SecuritiesNov 10, 2025MaintainsBuy
DA DavidsonNov 5, 2025MaintainsBuy
Lake StreetNov 5, 2025MaintainsBuy

The case for and against

Updated Oct 17, 2026

Bull case

CPI Card Group is supported by strong 2Q operating momentum, with total revenue up 15% year over year to $149M and adjusted EBITDA up 7% to $24M, both ahead of expectations, while organic revenue still grew 12% excluding the May 2025 Arroweye acquisition. Its outlook is reinforced by tuck-in acquisitions like Arroweye and TRISM, which expand its instant issuance ecosystem across 20K locations and 3K financial institutions, add estimated annualized revenue of $8M-$10M and $11M-$14M, and support management’s higher 2026 revenue growth guidance. The business also benefits from the higher-growth, higher-margin Integrated Paytech segment, which contributed about 14% of 2025 revenue and 22% of EBITDA with close to 40% margins, while leverage at 2.7x and $36M of first-half free cash flow indicate improving financial flexibility.

Bear case

CPI Card Group is facing a weaker fundamental setup because its core card-issuing end markets are highly cyclical, customer order timing is discretionary, and the company lacks multi-year volume commitments, which makes quarterly revenue and margin performance volatile. Despite 2Q25 adjusted EBITDA rising 7% year over year to $24M, margins still fell 120bp to 16.1%, while 2026 guidance already points to about $6M of higher non-chip tariff costs that can further pressure profitability. The balance sheet adds risk with $19M in cash, $280M in debt, and 3.0x net leverage in 1Q26, while concentrated ownership and limited float can amplify downside sentiment when operations or margins weaken.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.