Paysafe (NYSE:PSFE) Trading Down 5.2% on Analyst Downgrade

Paysafe Limited (NYSE:PSFE – Get Rating) shares were down 5.2% during trading on Tuesday after Bank of America lowered their price target on the stock from $17.00 to $13.70. The stock traded as low as $10.97 and last traded at $11.03. Approximately 275,238 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 399,972 shares. The stock had previously closed at $11.63.

A number of other analysts have also commented on the stock. BMO Capital Markets cut their price objective on shares of Paysafe from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, March 10th. Credit Suisse Group lifted their target price on Paysafe from $18.60 to $19.00 and gave the company an “underperform” rating in a research report on Friday, March 10th. Susquehanna reissued a “neutral” rating and set a $24.00 price target on shares of Paysafe in a research report on Friday, March 10th. Finally, Royal Bank of Canada lowered their price target on Paysafe from $36.00 to $17.00 in a research report on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $29.62.

Institutional Trading of Paysafe

Institutional investors have recently modified their holdings of the stock. Ameriprise Financial Inc. grew its stake in Paysafe by 145.0% during the first quarter. Ameriprise Financial Inc. now owns 87,882 shares of the company’s stock worth $1,518,000 after buying an additional 52,013 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Paysafe by 32.2% during the first quarter. JPMorgan Chase & Co. now owns 21,815 shares of the company’s stock worth $377,000 after purchasing an additional 5,310 shares during the last quarter. Harvest Portfolios Group Inc. boosted its holdings in shares of Paysafe by 127.1% in the 1st quarter. Harvest Portfolios Group Inc. now owns 26,848 shares of the company’s stock valued at $464,000 after purchasing an additional 15,028 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Paysafe by 5.1% in the 1st quarter. Geode Capital Management LLC now owns 269,143 shares of the company’s stock valued at $4,651,000 after purchasing an additional 13,013 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Paysafe during the 1st quarter worth $264,000. 47.72% of the stock is currently owned by institutional investors.

Paysafe Trading Down 5.0 %

The firm has a 50-day moving average of $15.01 and a two-hundred day moving average of $16.96. The firm has a market capitalization of $671.73 million, a P/E ratio of -1.00, a P/E/G ratio of 1.40 and a beta of 1.84. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.99.

Paysafe (NYSE:PSFE – Get Rating) last issued its quarterly earnings data on Tuesday, May 16th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.08 by $0.46. Paysafe had a negative net margin of 44.06% and a positive return on equity of 15.32%. The business had revenue of $387.80 million during the quarter, compared to the consensus estimate of $377.60 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. On average, analysts anticipate that Paysafe Limited will post 0.65 EPS for the current year.

About Paysafe

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Paysafe Limited provides digital commerce solutions to online businesses, small and medium-sized business merchants, and consumers through its Paysafe Network worldwide. The company operates in two segments, US Acquiring and Digital Commerce. It provides PCI-compliant payment acceptance and transaction processing solutions for merchants and integrated service providers, including merchant acquiring, transaction processing, online solutions, fraud and risk management tools, data and analytics, and point of sale systems and merchant financing solutions under the Paysafe and Petroleum Card Services brands.