U.S. markets close in 1 hour 39 minutes

  • S&P 500

    4,468.41
    +0.41 (+0.01%)
     

  • Dow 30

    35,525.48
    +10.10 (+0.03%)
     

  • Nasdaq

    14,770.23
    -52.67 (-0.36%)
     

  • Russell 2000

    2,212.38
    -10.73 (-0.48%)
     

  • Crude Oil

    67.42
    -1.02 (-1.49%)
     

  • Gold

    1,788.20
    +10.00 (+0.56%)
     

  • Silver

    23.84
    +0.07 (+0.28%)
     

  • EUR/USD

    1.1781
    -0.0011 (-0.09%)
     

  • 10-Yr Bond

    1.2480
    -0.0490 (-3.78%)
     

  • GBP/USD

    1.3843
    -0.0031 (-0.22%)
     

  • USD/JPY

    109.2000
    -0.3700 (-0.34%)
     

  • BTC-USD

    46,625.80
    +602.40 (+1.31%)
     

  • CMC Crypto 200

    1,185.82
    -11.76 (-0.98%)
     

  • FTSE 100

    7,153.98
    -64.73 (-0.90%)
     

  • Nikkei 225

    27,523.19
    -453.96 (-1.62%)
     

Why Paysafe's Stock Is Trading Lower Today

  • Oops!
    Something went wrong.
    Please try again later.
Adam Eckert
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Paysafe Ltd (NYSE: PSFE) is trading lower Monday after the company reaffirmed third-quarter revenue guidance below estimates and announced the acquisition of SafetyPay for $441 million.

Paysafe reported second-quarter revenue of $384.3 million, which beat the estimate of $377.98 million. The company reaffirmed that it expects third-quarter revenue to be in a range of $360 million to $375 million versus the estimate of $389.09 million.

"In total, we remain confident in our 2021 outlook and the years ahead as we continue to see the combination of our eCommerce gateway, digital wallets, online banking, and eCash solutions as a true differentiator in the market," said Philip McHugh, CEO of Paysafe.

Paysafe also announced that it signed a definitive agreement to acquire SafetyPay for $441 million in an all-cash transaction.

SafetyPay is a payments platform, operating primarily in Latin America, that enables e-commerce transactions. 

Price Action: Paysafe is trading at the lowest levels since it began trading on March 31. 

At last check Monday, the stock was down 13% at $8.87.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Recommended Stories

  • Analysts: You're Going To Lose Up To 30% On These 10 Stocks

    Investors and analysts are bullish on the S&P 500. But they're starting to severely call out individual stocks for running up too much.

  • Louis Vuitton's CEO now worth $200 billion — here's how to invest in the world's richest

    Bernard Arnault has firmly bested Jeff Bezos and Elon Musk for the No. 1 spot.

  • Michael Burry of ‘Big Short’ Bets Against Cathie Wood’s ARKK

    (Bloomberg) -- Michael Burry, the investor made famous by “The Big Short” movie, has taken aim at one of Wall Street’s hottest stars.Burry’s Scion Asset Management owned bearish put contracts against 235,500 shares of the ARK Innovation ETF (ticker ARKK) at the end of the second quarter, according to a regulatory filing Monday. The new position was valued at almost $31 million, the filing says.The flagship exchange-traded fund of Cathie Wood and her firm Ark Investment Management lured billions

  • Why Nvidia Stock Is Falling Today

    Shares of Nvidia (NASDAQ: NVDA) were sliding this morning after Credit Suisse analyst John Pitzer reiterated his outperform rating for Nvidia's stock and said that he's concerned about near-term volatility from the stock because of a slowdown in the cryptocurrency market. Investors weren't happy to hear that Pitzer thinks that a slowdown in crypto could affect Nvidia in the short term.

  • Retirement Without Savings?

    Everyone knows that you should save for retirement, but many don’t do it at all. Unfortunately, retirement without savings isn’t pretty.

  • Billionaire Ray Dalio Bets on These 3 ‘Strong Buy’ Stocks

    When billionaire financier Ray Dalio makes a move, Wall Street pays attention. Dalio, who got his start working on the floor of the New York Stock Exchange trading commodity futures, founded the world’s largest hedge fund, Bridgewater Associates, in 1975. Dalio has been dubbed by some the ‘Steve Jobs of investing.’ Like Jobs, Dalio believes in the value of keeping decisions simple. “Get rid of irrelevant details so that the essential things and the relationships between them stand out,” Dalio sa

  • What the Afghan government’s collapse might mean for the U.S. stock market

    The impact of rising tensions in the Middle East to the stock market, with the Dow Jones Industrial Average, the S&P 500 index and the Nasdaq Composite Index trading at or near record highs, is unclear.

  • Viant Technology Inc. (NASDAQ:DSP) Just Reported, And Analysts Assigned A US$37.50 Price Target

    Viant Technology Inc. ( NASDAQ:DSP ) just released its latest second-quarter results and things are looking bullish...

  • Jeff Bezos’ Blue Origin goes toe-to-toe with NASA in federal court over award to SpaceX

    Blue Origin, the space company helmed by billionaire Jeff Bezos, is taking NASA to court. The company filed a complaint with a federal claims court on Monday over the agency’s decision to award a lunar lander contract solely to rival company SpaceX. The complaint, which Blue Origin successfully petitioned to have sealed, says NASA's evaluation of proposals for the the Human Landing System was "unlawful and improper."

  • EV Stocks Take a Hit as Markets See a Monday-Morning Fall

    Wall Street got off to a cool start on Monday morning as market participants tried to weigh the benefits of a strong economy against threats like rising COVID-19 case counts and geopolitical worries. The S&P 500 (SNPINDEX: ^GSPC) fell 22 points to 4,446, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) declined 166 points to 14,657. In particular, two news items from Nio (NYSE: NIO) and Tesla (NASDAQ: TSLA) had some investors questioning whether their recent rebounds would be sustainable.

  • Worries about global growth outweigh report Fed moving closer to faster-than-expected tapering process

    Risk-off sentiment drives investors to Treasurys, despite a report by The Wall Street Journal that Federal Reserve policy makers are building a case to end asset purchases sooner than many expect.

  • Bitcoin Price Prediction – Bulls Target $49,000 Levels. Avoiding sub-$46,500 will be Key

    It’s been a bullish start to the day for Bitcoin and the broader market. A Bitcoin move back through to $48,000 levels would give the bulls a run at $49,000…

  • 3 Reasons to Buy Alibaba, and 1 Reason to Sell

    China is home to the world's second-largest economy, and internet company Alibaba Group Holding Limited (NYSE: BABA) is one of China's most dominant businesses. Down more than 20% over the past year, Alibaba could prove to be a bargain for patient investors if they can look past a major red flag. Here are three reasons to buy Alibaba and one reason to sell it.

  • 3 Top Growth Stocks That Could Be the Next 10-Baggers

    With that in mind, we asked a group of Motley Fool contributors to give us their best ideas for disruptive growth stocks that could ultimately become 10-baggers. Danny Vena (Upstart Holdings): If there's ever been an area that's ripe for disruption, it's consumer lending. Unfortunately, the rules-based systems employed by many banks are limited to just a few variables, leaving many would-be loan recipients out in the cold.

  • Why Fastly, Teladoc, and Lemonade Stocks Dipped on Monday

    Shares of edge computing specialist Fastly (NYSE: FSLY), telehealth company Teladoc Health (NYSE: TDOC), and insurer Lemonade (NYSE: LMND) all took a hit on Monday. As of 11:05 a.m. EDT, shares of these three companies were down 4.9%, 4.1%, and 1.7%, respectively. The three companies' shares were likely primarily down because of an overall bearish day in the market.

  • 3 Stocks to Avoid This Week

    These investments seem pretty vulnerable right now.

  • 3 High-Flying Stocks That May Fall 53% to 84%, According to Wall Street

    Time and again, patience begets profits on Wall Street. According to Wall Street analysts and investment firms, there are three high-flying stocks that could lose anywhere from 53% to 84% of their value over the coming year, based on the consensus price target for each company. First up is skyrocketing biotech stock Moderna (NASDAQ: MRNA), which has gained almost 1,900% since the beginning of 2020.

  • 3 Reasons I Just Bought Amazon Stock

    Sometimes investing in stocks is simple. Find the best companies and buy shares whenever Wall Street turns negative on them. It can seem counterintuitive. How can the stocks with the best historical performance still produce great future returns? But winners keep winning.

  • 3 Reasons to Buy AMD, and 1 Reason to Sell

    AMD stock is on fire, but it faces a critical vulnerability.

  • Better Dividend Stock: AbbVie or Pfizer?

    If you're looking for juicy dividend yields, you might want to check out big pharmaceutical stocks. AbbVie (NYSE: ABBV) and Pfizer (NYSE: PFE) stand out as two of the best in the industry. So far this year, Pfizer has been the bigger winner in terms of stock performance .