Repay Holdings

RPAY · NASDAQ

$4.07−$0.08 (−1.93%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $4.15

RPAY analyst rating

BuyConsensus of 6 analysts over the last 12 months. 50% rate it a buy.

Strong buy0
Buy3
Hold3
Underperform0
Sell0

12-month price target · 7 analysts

Average $6.99 (+71.7% upside)

Low: $4.29
Now: $4.07
High: $10.50

Upgrades and downgrades

The latest rating actions, newest first

RPAY analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Canaccord Genuity	Oct 16, 2026	Maintains	Buy	$8.00	49%
Canaccord Genuity	Aug 19, 2026	Maintains	Buy	$8.00	49%
DA Davidson	Jul 15, 2026	Maintains	Buy	$6.00	57%
DA Davidson	Jul 1, 2026	Maintains	Buy	$6.00	57%
DA Davidson	Jun 30, 2026	Maintains	Buy	$6.00	57%
UBS	Jun 3, 2026	Maintains	Neutral	$3.75 → $4.25	45%
DA Davidson	Jun 3, 2026	Maintains	Buy	$6.00	57%
UBS	May 7, 2026	Maintains	Neutral	$3.50 → $3.75	45%
DA Davidson	May 5, 2026	Maintains	Buy	$8.00	57%
Stephens & Co.	May 5, 2026	Downgrade	Overweight → Equal-Weight	$7.00 → $3.75	43%

The case for and against

Updated Oct 14, 2026

Bull case

Repay Holdings is supported by a compelling growth runway from the Kubra acquisition, which management says will lift 2026 revenue to $490M-$500M and adjusted EBITDA to $169M-$176M, while the combined company is projected to reach about $625M of revenue and $206M of adjusted EBITDA in 2027. The deal also brings meaningful operating leverage, with at least $15M in annual run-rate cost synergies, about $5M of technology savings, roughly $5M of revenue synergies by 2028, and expected 25% free-cash-flow accretion by 2028. Although leverage may rise to 4.0x on pro forma EBITDA, the ability to reduce it below 3.0x within 18 months, plus exposure to a $3.2T B2B TAM and a growing bill-payment franchise, underpins the positive outlook.

Bear case

Repay Holdings is facing a weak fundamental setup because most revenue is tied to discount fees on payment volumes, leaving results exposed to slower economic activity, rising unemployment, higher delinquencies, and fragile small-business customers. Its competitive position is also pressured by a highly consolidated payments market, where larger rivals can outscale it on pricing and contract terms, while recent customer losses have already hurt sentiment and helped drive a 52% share decline in 2025 and another 30% YTD before the unsolicited proposal. Financial risk is elevated as well: year-end 2025 cash was $116M against $434M of debt, and the $372M Kubra acquisition is expected to lift net leverage to 4.0x pro forma EBITDA, increasing integration and balance-sheet risk if execution slips.

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