Paysafe (NYSE:PSFE) Given New $20.00 Price Target at Royal Bank of Canada

Paysafe (NYSE:PSFE) had its price objective raised by Royal Bank of Canada from $16.00 to $20.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Other research analysts have also issued reports about the company. Bank of America raised their price target on Paysafe from $13.40 to $14.60 and gave the stock an underperform rating in a research report on Monday, April 15th. Susquehanna lifted their target price on Paysafe from $14.00 to $16.00 and gave the company a neutral rating in a research report on Tuesday. Finally, BTIG Research began coverage on Paysafe in a report on Wednesday, January 17th. They set a buy rating and a $19.00 price target for the company. Three 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. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $22.01.

Paysafe Price Performance

Shares of PSFE traded up $0.12 during mid-day trading on Tuesday, reaching $18.10. The company had a trading volume of 156,973 shares, compared to its average volume of 446,438. Paysafe has a twelve month low of $9.25 and a twelve month high of $19.83. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.82. The company’s 50-day moving average is $15.06 and its 200-day moving average is $13.47.

Paysafe (NYSE:PSFE) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The business had revenue of $414.50 million for the quarter, compared to analyst estimates of $414.52 million. Paysafe had a positive return on equity of 15.22% and a negative net margin of 0.82%. Paysafe’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 EPS. On average, research analysts anticipate that Paysafe will post 2.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Paysafe

A number of institutional investors have recently made changes to their positions in the company. Cannae Holdings Inc. raised its position in shares of Paysafe by 92.9% in the first quarter. Cannae Holdings Inc. now owns 3,379,887 shares of the company’s stock valued at $53,368,000 after buying an additional 1,628,183 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Paysafe by 37.4% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,155,486 shares of the company’s stock worth $13,854,000 after purchasing an additional 314,617 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Paysafe by 39.1% in the first 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 during the last quarter. Ancora Advisors LLC bought a new stake in shares of Paysafe in the third quarter worth $2,928,000. Finally, Federated Hermes Inc. boosted its position in Paysafe by 2.2% during the fourth quarter. Federated Hermes Inc. now owns 196,795 shares of the company’s stock valued at $2,517,000 after acquiring an additional 4,150 shares during the last quarter. Institutional investors own 54.39% of the company’s stock.

Paysafe Company Profile

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.