Paysafe (NYSE:PSFE) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Paysafe (NYSE:PSFE) issued its quarterly earnings data on Tuesday. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.03), Briefing.com reports. Paysafe had a negative net margin of 2.49% and a positive return on equity of 14.97%. The firm had revenue of $396.40 million during the quarter, compared to analyst estimates of $398.30 million. During the same period in the previous year, the firm posted $0.48 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year.

Paysafe Stock Up 3.0 %

Shares of NYSE:PSFE traded up $0.41 during trading on Wednesday, hitting $14.00. 188,649 shares of the company were exchanged, compared to its average volume of 439,274. The firm’s 50 day moving average price is $11.34 and its 200-day moving average price is $11.56. Paysafe has a 12-month low of $9.25 and a 12-month high of $24.25. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $851.06 million, a P/E ratio of -20.45, a PEG ratio of 0.43 and a beta of 1.83.

Institutional Investors Weigh In On Paysafe

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Paysafe by 6.7% during the third quarter. BlackRock Inc. now owns 19,512,764 shares of the company’s stock worth $26,929,000 after buying an additional 1,233,225 shares during the period. State Street Corp raised its position in Paysafe by 4.4% in the 3rd quarter. State Street Corp now owns 8,178,811 shares of the company’s stock valued at $11,287,000 after purchasing an additional 345,681 shares during the last quarter. Renaissance Technologies LLC raised its position in Paysafe by 36.2% in the 2nd quarter. Renaissance Technologies LLC now owns 3,333,700 shares of the company’s stock valued at $6,501,000 after purchasing an additional 885,300 shares during the last quarter. Northern Trust Corp boosted its stake in Paysafe by 282.4% during the 2nd quarter. Northern Trust Corp now owns 2,293,173 shares of the company’s stock worth $4,471,000 after purchasing an additional 1,693,426 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Paysafe by 59.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,973,500 shares of the company’s stock valued at $6,690,000 after purchasing an additional 734,708 shares during the period. 51.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSFE has been the subject of several recent research reports. BMO Capital Markets lowered their price objective on shares of Paysafe from $80.00 to $64.00 and set an “outperform” rating for the company in a research note on Wednesday, August 16th. UBS Group assumed coverage on Paysafe in a report on Friday, October 20th. They issued a “sell” rating and a $10.00 target price for the company. Royal Bank of Canada increased their price target on Paysafe from $17.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 16th. Susquehanna boosted their price objective on Paysafe from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 16th. Finally, Credit Suisse Group raised their target price on shares of Paysafe from $14.50 to $15.00 and gave the company an “underperform” rating in a report on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Paysafe currently has a consensus rating of “Hold” and an average target price of $22.95.

About Paysafe

Paysafe Limited provides a payments platform with for merchants and consumers in the entertainment sectors. It enables businesses and consumers to connect and transact seamlessly through capabilities in payment processing, digital wallet, and online cash solutions. The company operates through two segments, Merchant Solutions and Digital Wallets.