Raymond James Forecasts Strong Price Appreciation for Payfare (TSE:PAY) Stock

Payfare (TSE:PAY) had its price target hoisted by equities researchers at Raymond James from C$3.00 to C$4.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. Raymond James’ price objective would suggest a potential upside of 3.90% from the stock’s previous close.

A number of other research analysts also recently issued reports on PAY. B. Riley downgraded Payfare from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. Cantor Fitzgerald raised Payfare to a “strong-buy” rating in a research report on Thursday, October 3rd.

Payfare Trading Up 1.3 %

Shares of TSE:PAY traded up C$0.05 during trading hours on Tuesday, hitting C$3.85. 1,337,415 shares of the company’s stock traded hands, compared to its average volume of 271,473. Payfare has a 1 year low of C$1.76 and a 1 year high of C$8.90. The firm has a market capitalization of C$184.72 million, a P/E ratio of 9.63 and a beta of 1.80. The business has a fifty day moving average price of C$2.14 and a 200-day moving average price of C$5.02. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 0.32.

About Payfare

Payfare Inc, a financial technology company, provides instant payout and digital banking solutions to gig economy workers in Canada, the United States, and Mexico. The company offers PayFare, a platform that provides access to earnings, as well as banking services, such as ATM withdrawals, funds transfers, bill payments, and savings wallets; Paid Portal by Payfare, a payout solution for gig workforces; and Paid App by Payfare, a digital banking app.