Paysafe (NYSE:PSFE) Hits New 1-Year Low on Analyst Downgrade

Paysafe Limited (NYSE:PSFE – Get Rating) shares reached a new 52-week low during trading on Wednesday after Bank of America lowered their price target on the stock from $17.00 to $13.70. The company traded as low as $10.46 and last traded at $10.49, with a volume of 71224 shares changing hands. The stock had previously closed at $11.05.

PSFE has been the subject of several other research reports. Susquehanna reiterated a “neutral” rating and set a $24.00 target price on shares of Paysafe in a research note on Friday, March 10th. Royal Bank of Canada dropped their price objective on shares of Paysafe from $36.00 to $17.00 in a research note on Wednesday, May 17th. Credit Suisse Group raised their target price on shares of Paysafe from $18.60 to $19.00 and gave the stock an “underperform” rating in a research report on Friday, March 10th. Finally, BMO Capital Markets decreased their target price on shares of Paysafe from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, March 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.62.

Institutional Investors Weigh In On Paysafe

Several institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its holdings in shares of Paysafe by 646.9% in the first quarter. Renaissance Technologies LLC now owns 2,448,400 shares of the company’s stock valued at $8,300,000 after acquiring an additional 2,120,600 shares in the last quarter. Northern Trust Corp lifted its position in shares of Paysafe by 282.4% in the 2nd quarter. Northern Trust Corp now owns 2,293,173 shares of the company’s stock valued at $4,471,000 after acquiring an additional 1,693,426 shares in the last quarter. State Street Corp lifted its position in shares of Paysafe by 25.3% in the 2nd quarter. State Street Corp now owns 7,833,130 shares of the company’s stock valued at $15,275,000 after acquiring an additional 1,579,249 shares in the last quarter. BlackRock Inc. lifted its position in shares of Paysafe by 6.7% in the 3rd quarter. BlackRock Inc. now owns 19,512,764 shares of the company’s stock valued at $26,929,000 after acquiring an additional 1,233,225 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Paysafe by 59.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,973,500 shares of the company’s stock valued at $6,690,000 after acquiring an additional 734,708 shares in the last quarter. Institutional investors and hedge funds own 47.72% of the company’s stock.

Paysafe Trading Down 5.6 %

The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.99. The firm has a market cap of $634.04 million, a PE ratio of -0.94, a P/E/G ratio of 1.47 and a beta of 1.84. The company’s 50-day moving average is $14.86 and its 200 day moving average is $16.91.

Paysafe (NYSE:PSFE – Get Rating) last issued its quarterly earnings results on Tuesday, May 16th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.08 by $0.46. The business had revenue of $387.80 million during the quarter, compared to the consensus estimate of $377.60 million. Paysafe had a negative net margin of 44.06% and a positive return on equity of 15.32%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 EPS. As a group, sell-side analysts predict that Paysafe Limited will post 0.65 EPS for the current year.

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.