DA Davidson Affirms Buy Rating as Shift4 Payments Inc. (FOUR) Founder Joins NASA

Shift4 Payments Inc. (NYSE:FOUR) is one of the best beaten-down technology stocks to buy according to hedge funds. On December 18, DA Davidson reiterated a Buy rating and a $104 price target on Shift4 Payments Inc. (NYSE:FOUR). The positive stance is in response to confirmation that the company’s founder and Chairman is poised to join NASA as the next Administrator.

DA Davidson Affirms Buy Rating as Shift4 Payments Inc. (FOUR) Founder Joins NASA

Jared Isaacman is to lead the National Aeronautics and Space Administration. He has already resigned from his position as executive chairman of Shift4’s board of directors. Taylor Lauber will take over as chairman of the board.

The management reorganization comes on the heels of Shift4 Payments announcing the completion of a $507 million equivalent senior notes issuance due in 2033. The company is to use net proceeds from the offering to finance general corporate purposes, including repaying debt and pursuing strategic acquisitions.

Shift4 Payments (NYSE:FOUR) has already entered into a strategic partnership with Liberty Sports Group to provide integrated payment technology across its sports and entertainment venues in the US. The collaboration paves the way for the company to implement point-of-sale solutions and payment processing.

Shift4 Payments Inc. (NYSE:FOUR) is a technology company that provides an end-to-end commerce ecosystem, offering payment processing and technology solutions for businesses, including mobile payments, point-of-sale (POS) systems (such as SkyTab), e-commerce, and business intelligence tools.

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Disclosure: None. This article is originally published at Insider Monkey.