Payfare (TSE:PAY) Rating Increased to Strong-Buy at Cantor Fitzgerald

Payfare (TSE:PAY) was upgraded by investment analysts at Cantor Fitzgerald to a “strong-buy” rating in a report released on Thursday, Zacks.com reports.

Other analysts have also issued reports about the stock. Raymond James lowered shares of Payfare from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from C$12.00 to C$3.00 in a research note on Monday, September 30th. B. Riley lowered shares of Payfare from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th.

Payfare Trading Up 2.0 %

Payfare stock opened at C$2.08 on Thursday. The company has a quick ratio of 0.32, a current ratio of 1.22 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of C$7.39 and a two-hundred day moving average price of C$6.72. The firm has a market capitalization of C$99.80 million, a price-to-earnings ratio of 5.18 and a beta of 2.12. Payfare has a 52-week low of C$1.76 and a 52-week high of C$8.90.

Payfare (TSE:PAY) last posted its earnings results on Wednesday, August 7th. The company reported C$0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.17 by C($0.01). The firm had revenue of C$55.99 million for the quarter, compared to analyst estimates of C$58.97 million. Payfare had a net margin of 9.62% and a return on equity of 27.84%. Sell-side analysts expect that Payfare will post 0.6901639 earnings per share for the current year.

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.