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

Payfare (TSE:PAY) was upgraded by Cantor Fitzgerald to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

Several other equities research analysts also recently weighed in on PAY. Raymond James downgraded shares of Payfare from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from C$12.00 to C$3.00 in a research report on Monday, September 30th. B. Riley downgraded shares of Payfare from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th.

Payfare Price Performance

PAY opened at C$2.08 on Thursday. The company has a 50-day moving average of C$7.39 and a 200-day moving average of C$6.72. The company has a market capitalization of C$99.80 million, a P/E ratio of 5.18 and a beta of 2.12. Payfare has a 1-year low of C$1.76 and a 1-year high of C$8.90. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.32 and a current ratio of 1.22.

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