Shift4 Payments Inc. (FOUR) saw its shares plummet 5.17% during intraday trading on Friday, as negative sentiment from Wall Street analysts weighed on the stock.
The payment processing company faced a series of analyst downgrades and price target reductions throughout the pre-market and early trading session. Evercore ISI lowered its price target to $55 from $80, Freedom Capital downgraded the stock to Hold from Buy, and RBC cut its target to $73 from $96. Additional price target cuts came from B. Riley ($120 from $131), Susquehanna ($92 from $101), KBW ($60 from $72), and BTIG ($80 from $105).
The collective bearish analyst actions created selling pressure on Shift4 Payments shares, driving the stock lower as investors reacted to the reduced outlook from multiple financial firms.