Bank of America Trims Paysafe (NYSE:PSFE) Target Price to $13.70

Paysafe (NYSE:PSFE – Get Rating) had its price target trimmed by Bank of America from $17.00 to $13.70 in a report published on Tuesday, The Fly reports.

Several other equities research analysts have also issued reports on the stock. Royal Bank of Canada lowered their target price on shares of Paysafe from $36.00 to $17.00 in a report on Wednesday, May 17th. Susquehanna restated a neutral rating and issued a $24.00 target price on shares of Paysafe in a report on Friday, March 10th. Credit Suisse Group increased their price target on Paysafe from $18.60 to $19.00 and gave the stock an underperform rating in a report on Friday, March 10th. Finally, BMO Capital Markets reduced their price target on Paysafe from $84.00 to $80.00 and set an outperform rating on the stock in a report on Friday, March 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Paysafe currently has an average rating of Hold and a consensus target price of $29.62.

Paysafe Price Performance

Paysafe stock opened at $9.90 on Tuesday. The company has a market cap of $601.82 million, a price-to-earnings ratio of -0.89, a PEG ratio of 0.56 and a beta of 1.84. The firm’s fifty day moving average is $14.71 and its 200 day moving average is $16.86. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.99. Paysafe has a 52-week low of $9.85 and a 52-week high of $34.50.

Paysafe (NYSE:PSFE – Get Rating) last issued its quarterly earnings data on Tuesday, May 16th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.46. The business had revenue of $387.80 million for the quarter, compared to the consensus estimate of $377.60 million. Paysafe had a positive return on equity of 15.32% and a negative net margin of 44.06%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 earnings per share. Sell-side analysts forecast that Paysafe will post 2.2 EPS for the current fiscal year.

Institutional Trading of Paysafe

A number of large investors have recently modified their holdings of PSFE. Renaissance Technologies LLC increased its holdings in Paysafe by 646.9% during the first quarter. Renaissance Technologies LLC now owns 2,448,400 shares of the company’s stock valued at $8,300,000 after buying an additional 2,120,600 shares during the period. Northern Trust Corp boosted its position in Paysafe by 282.4% during the second quarter. Northern Trust Corp now owns 2,293,173 shares of the company’s stock valued at $4,471,000 after purchasing an additional 1,693,426 shares in the last quarter. State Street Corp boosted its position in Paysafe by 25.3% during the second quarter. State Street Corp now owns 7,833,130 shares of the company’s stock valued at $15,275,000 after purchasing an additional 1,579,249 shares in the last quarter. Raymond James & Associates boosted its position in Paysafe by 1,871.7% during the third quarter. Raymond James & Associates now owns 1,330,515 shares of the company’s stock valued at $1,836,000 after purchasing an additional 1,263,035 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Paysafe by 6.7% during the third quarter. BlackRock Inc. now owns 19,512,764 shares of the company’s stock valued at $26,929,000 after purchasing an additional 1,233,225 shares in the last quarter. Hedge funds and other institutional investors own 47.72% of the company’s stock.

About Paysafe

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Paysafe Limited provides digital commerce solutions to online businesses, small and medium-sized business merchants, and consumers through its Paysafe Network worldwide. The company operates in two segments, US Acquiring and Digital Commerce. It provides PCI-compliant payment acceptance and transaction processing solutions for merchants and integrated service providers, including merchant acquiring, transaction processing, online solutions, fraud and risk management tools, data and analytics, and point of sale systems and merchant financing solutions under the Paysafe and Petroleum Card Services brands.