Paysafe (NYSE:PSFE) Shares Gap Up – Here’s Why

Paysafe Limited (NYSE:PSFE)’s share price gapped up prior to trading on Friday . The stock had previously closed at $12.49, but opened at $12.97. Paysafe shares last traded at $12.77, with a volume of 105,917 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PSFE shares. Bank of America upgraded shares of Paysafe from an “underperform” rating to a “neutral” rating and set a $14.30 price objective on the stock in a research report on Friday. Susquehanna cut their target price on shares of Paysafe from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Finally, 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.

Paysafe Stock Up 2.0%

The firm’s 50 day moving average is $15.26 and its two-hundred day moving average is $17.65. The stock has a market cap of $762.97 million, a price-to-earnings ratio of -33.53, a P/E/G ratio of 0.48 and a beta of 1.90. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 2.76.

Paysafe (NYSE:PSFE) last posted its quarterly earnings data on Tuesday, May 13th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.32). Paysafe had a negative net margin of 1.38% and a positive return on equity of 12.92%. The company had revenue of $401.00 million for the quarter, compared to analyst estimates of $404.45 million. On average, sell-side analysts predict that Paysafe Limited will post 1.87 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Spire Wealth Management acquired a new position in shares of Paysafe during the 4th quarter valued at about $26,000. GAMMA Investing LLC increased its position in Paysafe by 10,940.7% during the 1st quarter. GAMMA Investing LLC now owns 2,981 shares of the company’s stock worth $47,000 after purchasing an additional 2,954 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Paysafe by 1,385.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,075 shares of the company’s stock worth $48,000 after purchasing an additional 2,868 shares in the last quarter. Bfsg LLC acquired a new stake in Paysafe during the 4th quarter worth approximately $78,000. Finally, State of Wyoming increased its position in Paysafe by 38.2% during the 4th quarter. State of Wyoming now owns 7,162 shares of the company’s stock worth $122,000 after purchasing an additional 1,980 shares in the last quarter. Institutional investors and hedge funds own 54.39% of the company’s stock.

About Paysafe

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.