Bank of America Cuts Paysafe (NYSE:PSFE) Price Target to $16.00

Paysafe (NYSE:PSFE) had its price target decreased by Bank of America from $18.00 to $16.00 in a report released on Monday,Benzinga reports. Bank of America currently has an underperform rating on the stock.

Several other research firms have also weighed in on PSFE. UBS Group boosted their target price on shares of Paysafe from $17.00 to $17.50 and gave the company a “sell” rating in a research note on Wednesday, February 12th. Royal Bank of Canada lowered their price objective on shares of Paysafe from $25.00 to $21.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Finally, Susquehanna cut their target price on shares of Paysafe from $21.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th.

Paysafe Stock Performance

Shares of PSFE stock opened at $15.26 on Monday. The stock has a market capitalization of $927.09 million, a price-to-earnings ratio of -40.14, a PEG ratio of 0.48 and a beta of 1.87. Paysafe has a one year low of $12.77 and a one year high of $26.25. The company’s 50-day simple moving average is $18.53 and its 200-day simple moving average is $19.94. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.14 and a current ratio of 1.14.

Paysafe (NYSE:PSFE) last released its earnings results on Thursday, March 6th. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.17). Paysafe had a positive return on equity of 12.92% and a negative net margin of 1.38%. The firm had revenue of $420.07 million for the quarter, compared to the consensus estimate of $437.40 million. Equities analysts anticipate that Paysafe will post 1.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paysafe

Several hedge funds and other institutional investors have recently modified their holdings of PSFE. Topline Capital Management LLC acquired a new stake in shares of Paysafe in the fourth quarter valued at approximately $34,481,000. Private Management Group Inc. bought a new position in Paysafe in the 4th quarter worth approximately $8,489,000. Foundry Partners LLC acquired a new stake in Paysafe in the 3rd quarter valued at approximately $5,450,000. Raymond James Financial Inc. bought a new stake in Paysafe during the 4th quarter valued at $1,944,000. Finally, ExodusPoint Capital Management LP acquired a new position in Paysafe during the 4th quarter worth $1,792,000. Institutional investors and hedge funds 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.