RPAY Stock Forecast & Price Target

Repay Holdings is viewed favorably because the Kubra acquisition broadens its payments platform into bill payment and customer communications, deepens exposure to a large $3.2T Business Payments TAM, and should improve cross-selling across more than 100 independent software vendors and a 660K-vendor AP network. Management’s updated guidance for 2026 calls for $490M-$500M of revenue and $169M-$176M of adjusted EBITDA, while pro forma 2027 estimates rise to about $625M of revenue and $206M of adjusted EBITDA, implying strong scale-driven growth versus 2025. The thesis is further supported by at least $15M in annual run-rate cost synergies, roughly $5M of technology savings, and expected free-cash-flow accretion by 2028, even as leverage is expected to decline below 3.0x within 18 months.

Repay Holdings is facing a negative setup because its core revenue depends on electronic payment volumes that are vulnerable to weaker economic conditions, rising unemployment, and higher customer failure rates, especially among small businesses. The competitive payments market is dominated by much larger players, while the company’s heavy reliance on acquisitions increases integration risk and will be amplified by the $372M Kubra deal, which is expected to lift net leverage from 2.5x trailing EBITDA to 4.0x pro forma EBITDA. Investor sentiment is already weak after the stock fell 52% in 2025 and another 30% YTD before the buyout proposal, and the Board’s rejection of Forager’s $5.25 per share offer removes a potential catalyst while leaving downside tied to execution uncertainty.