Paysafe (NASDAQ:PSFE) Stock Rating Lowered by Zacks Investment Research

Paysafe (NASDAQ:PSFE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “Paysafe Group Holdings Limited is a specialized payments platform, with a consumer and merchant network, whose core purpose is to enable businesses and consumers to connect and transact seamlessly through payment processing; digital wallets including the Skrill and Neteller brands and online cash solutions including paysafecard and Paysafecash. Paysafe Group Holdings Limited, formerly known as Foley Trasimene Acquisition Corp. II, is based in LAS VEGAS. “

A number of other research analysts have also recently commented on the company. Credit Suisse Group decreased their price target on Paysafe from $9.00 to $4.00 and set a “neutral” rating on the stock in a research report on Friday, November 12th. Wolfe Research cut Paysafe from an “outperform” rating to a “peer perform” rating and decreased their price target for the stock from $14.00 to $4.50 in a research report on Friday, November 12th. Royal Bank of Canada decreased their price target on Paysafe from $15.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, November 11th. Cowen cut Paysafe from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $14.00 to $7.00 in a research report on Thursday, November 11th. Finally, Susquehanna decreased their price target on Paysafe from $17.00 to $13.00 and set a “positive” rating on the stock in a research report on Monday, November 15th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $10.08.

PSFE stock opened at $3.76 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.84. The business’s fifty day moving average price is $4.13 and its two-hundred day moving average price is $7.35. Paysafe has a fifty-two week low of $3.18 and a fifty-two week high of $19.57.

Paysafe (NASDAQ:PSFE) last posted its quarterly earnings data on Friday, November 12th. The company reported ($0.20) earnings per share for the quarter. The firm had revenue of $353.59 million for the quarter. Paysafe had a negative return on equity of 8.41% and a negative net margin of 14.23%. Equities analysts predict that Paysafe will post 0.05 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new stake in shares of Paysafe during the fourth quarter valued at about $32,000. Wolverine Asset Management LLC boosted its stake in shares of Paysafe by 379.3% during the third quarter. Wolverine Asset Management LLC now owns 5,028 shares of the company’s stock valued at $38,000 after purchasing an additional 3,979 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Paysafe by 349.7% during the third quarter. Captrust Financial Advisors now owns 5,558 shares of the company’s stock valued at $43,000 after purchasing an additional 4,322 shares in the last quarter. XR Securities LLC acquired a new stake in shares of Paysafe during the fourth quarter valued at about $48,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Paysafe during the third quarter valued at about $64,000.

About Paysafe

Paysafe Limited provides digital commerce solutions to online businesses, SMB merchants, and consumers through its Paysafe Network worldwide. It offers digital wallet solutions under the Skrill and NETELLER brands, which enable users to upload, store, withdraw, and pay funds and APMs from a virtual account; Knect, a Skrill-related loyalty program; Net+Prepaid Mastercard, a companion product enabling NETELLER digital wallet active users to access and use stored funds anywhere that Mastercard card products are accepted; rapid transfer solutions; and issuing services for prepaid, virtual, and private label cards on behalf of its merchant customers.

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