Shift4 Payments inches up after Wednesday's slump

Shift4 Payments

05/12/2024 13:31

** Shares of payments firm Shift4 Payments  FOUR.N  rise
1.3% to $101.23 in premarket trading
    ** FOUR shares slumped 12.4% on Wednesday after U.S.
President-elect Donald Trump picked FOUR CEO Jared Isaacman to
head NASA
    ** Wall Street analysts view Isaacman's pending exit as
representing the realization of the key person risk
    ** Benchmark says Isaacman's departure has given rise to
significant uncertainty over the company's ability to execute
its strategy as effectively as it has up to this point
    ** Key person risk has been one of FOUR's primary
vulnerabilities since it went public in 2020 - Benchmark
    ** Brokerage downgrades its recommendation on FOUR to "hold"
from "buy" and removes $99 PT, as it believes stock is likely
entering range-bound period given uncertainty arising from
departure
    ** As of last close, FOUR shares up 34.5% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))