Royal Bank of Canada Lowers Paysafe (NYSE:PSFE) Price Target to $21.00

Paysafe (NYSE:PSFE) had its target price reduced by analysts at Royal Bank of Canada from $25.00 to $21.00 in a report released on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 18.85% from the stock’s previous close.

PSFE has been the subject of several other reports. Susquehanna cut their price target on Paysafe from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday. Bank of America upped their target price on Paysafe from $16.20 to $19.00 and gave the company an “underperform” rating in a research report on Tuesday, August 27th. Finally, UBS Group increased their target price on Paysafe from $16.50 to $17.00 and gave the stock a “sell” rating in a report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.00.

Paysafe Trading Down 2.3 %

Shares of Paysafe stock opened at $17.67 on Thursday. Paysafe has a 52-week low of $10.05 and a 52-week high of $26.25. The stock has a market cap of $1.07 billion, a PE ratio of -46.50, a PEG ratio of 0.48 and a beta of 1.91. The firm has a 50-day moving average of $22.03 and a 200-day moving average of $19.99. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.15 and a current ratio of 1.15.

Paysafe (NYSE:PSFE) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.07). Paysafe had a negative net margin of 1.38% and a positive return on equity of 12.94%. The business had revenue of $439.92 million during the quarter, compared to the consensus estimate of $428.40 million. As a group, sell-side analysts forecast that Paysafe will post 1.92 EPS for the current year.

Hedge Funds Weigh In On Paysafe

Several hedge funds and other institutional investors have recently modified their holdings of PSFE. Dimensional Fund Advisors LP boosted its stake in Paysafe by 24.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,633,280 shares of the company’s stock valued at $28,876,000 after buying an additional 324,207 shares in the last quarter. Foundry Partners LLC acquired a new stake in shares of Paysafe in the 3rd quarter valued at approximately $5,450,000. Acadian Asset Management LLC bought a new stake in shares of Paysafe during the 2nd quarter valued at approximately $3,702,000. Jacobs Levy Equity Management Inc. increased its position in Paysafe by 39.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 302,765 shares of the company’s stock worth $4,781,000 after purchasing an additional 85,170 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Paysafe by 31.8% in the 2nd quarter. Renaissance Technologies LLC now owns 204,287 shares of the company’s stock valued at $3,612,000 after purchasing an additional 49,300 shares during the last quarter. Institutional investors own 54.39% of the company’s stock.

About Paysafe

Paysafe Limited provides end-to-end payment solutions in the United States, Germany, the United Kingdom, and internationally. Its payments platform offers a range of payment solutions comprising credit and debit card processing, digital wallet, eCash, and real-time banking solutions for entertainment verticals, such as iGaming, including online betting related to sports, e-sports, fantasy sports, poker, and other casino games, as well as travel, streaming/video gaming, retail/hospitality, and digital assets.