Paymentus' (PAY) Q2 beat reflects that fact that the company continues to benefit from the ongoing shift to digital bill payments despite lingering economic uncertainty, Wedbush Securities said in a note Tuesday.

Analysts, including Daniel Ives, said the company has once again raised its full-year 2025 guidance, reflecting stronger-than-expected enterprise demand and a growing pipeline of large customers across multiple industries. Total revenue for the year is now expected to range from $1.12 billion to $1.13 billion, above the Street's forecast of $1.10 billion and the company's previous guidance of $1.08 billion to $1.09 billion.

Management remains confident in its ability to expand service offerings and replace legacy systems across the enterprise landscape, while also identifying new cost efficiencies and growth opportunities across industries, the analysts added.

Paymentus "continues to put together solid print after solid print," as the company sees strong growth in its pipeline and more success with its conversion rates to drive revenue growth, "while making strategic investments with a close eye on the bottom line," the analysts said.

Wedbush maintains its outperform rating and a $40 price target on the stock.

Price: 31.04, Change: +1.71, Percent Change: +5.83