Paysafe (NYSE:PSFE) Shares Gap Down to $13.58

Paysafe Limited (NYSE:PSFEGet Free Report)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $13.58, but opened at $13.11. Paysafe shares last traded at $13.15, with a volume of 35,257 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PSFE. Jefferies Financial Group began coverage on Paysafe in a research note on Thursday, November 30th. They issued a “hold” rating and a $11.00 price objective on the stock. UBS Group began coverage on Paysafe in a research note on Friday, October 20th. They issued a “sell” rating and a $10.00 price objective on the stock. Susquehanna dropped their price objective on Paysafe from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 15th. Bank of America dropped their price objective on Paysafe from $13.90 to $13.70 and set an “underperform” rating on the stock in a research note on Friday, November 24th. Finally, BTIG Research assumed coverage on Paysafe in a research note on Wednesday. They issued a “buy” rating and a $19.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.71.

Read Our Latest Analysis on Paysafe

Paysafe Stock Up 5.5 %

The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.85. The stock has a 50-day simple moving average of $11.90 and a 200-day simple moving average of $11.75. The firm has a market capitalization of $863.52 million, a PE ratio of -20.59, a P/E/G ratio of 0.33 and a beta of 1.86.

Paysafe (NYSE:PSFEGet Free Report) last released its earnings results on Tuesday, November 14th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.03). The firm had revenue of $396.40 million during the quarter, compared to analysts’ expectations of $398.30 million. Paysafe had a positive return on equity of 15.59% and a negative net margin of 2.66%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 earnings per share. Analysts forecast that Paysafe Limited will post 1.95 EPS for the current year.

Hedge Funds Weigh In On Paysafe

Several hedge funds have recently made changes to their positions in the stock. Raymond James & Associates boosted its stake in Paysafe by 3.7% during the second quarter. Raymond James & Associates now owns 112,133 shares of the company’s stock valued at $1,131,000 after buying an additional 4,008 shares during the period. American International Group Inc. lifted its stake in Paysafe by 14.9% during the second quarter. American International Group Inc. now owns 15,628 shares of the company’s stock worth $158,000 after purchasing an additional 2,026 shares during the last quarter. Truist Financial Corp lifted its stake in Paysafe by 29.7% during the second quarter. Truist Financial Corp now owns 25,651 shares of the company’s stock worth $259,000 after purchasing an additional 5,873 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Paysafe by 98.5% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,904 shares of the company’s stock valued at $160,000 after acquiring an additional 7,890 shares during the last quarter. Finally, Gabelli Funds LLC lifted its stake in shares of Paysafe by 3.5% in the 2nd quarter. Gabelli Funds LLC now owns 103,500 shares of the company’s stock valued at $1,044,000 after acquiring an additional 3,500 shares during the last quarter. 51.84% of the stock is currently owned by hedge funds and other institutional investors.

Paysafe Company Profile

(Get Free Report)

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.

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