Paysafe (NYSE:PSFE) Sees Strong Trading Volume Following Earnings Beat

Posted by Defense World Staff on May 18th, 2023

Paysafe Limited (NYSE:PSFE – Get Rating) saw unusually-strong trading volume on Wednesday after the company announced better than expected quarterly earnings. Approximately 324,461 shares were traded during trading, a decline of 15% from the previous session’s volume of 382,772 shares.The stock last traded at $11.84 and had previously closed at $12.71.

The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.46. The business had revenue of $387.80 million for the quarter, compared to analysts’ expectations of $377.60 million. Paysafe had a positive return on equity of 12.91% and a negative net margin of 122.68%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. BMO Capital Markets decreased their price objective on Paysafe from $84.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, March 10th. Credit Suisse Group upped their price objective on Paysafe from $18.60 to $19.00 and gave the stock an “underperform” rating in a report on Friday, March 10th. Royal Bank of Canada cut their target price on Paysafe from $36.00 to $17.00 in a research report on Wednesday. Finally, Susquehanna reissued a “neutral” rating and set a $24.00 target price on shares of Paysafe in a research report on Friday, March 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $32.80.

Hedge Funds Weigh In On Paysafe

Large investors have recently modified their holdings of the stock. CWM LLC grew its position in Paysafe by 528.8% in the 4th quarter. CWM LLC now owns 1,767 shares of the company’s stock valued at $25,000 after acquiring an additional 1,486 shares during the last quarter. USAdvisors Wealth Management LLC bought a new position in Paysafe in the 3rd quarter valued at $28,000. Point72 Hong Kong Ltd bought a new position in Paysafe in the 2nd quarter valued at $29,000. Verition Fund Management LLC bought a new position in Paysafe in the 2nd quarter valued at $31,000. Finally, Meeder Asset Management Inc. grew its position in Paysafe by 2,225.2% in the 4th quarter. Meeder Asset Management Inc. now owns 2,581 shares of the company’s stock valued at $36,000 after acquiring an additional 2,470 shares during the last quarter. Institutional investors own 47.72% of the company’s stock.

Paysafe Stock Down 6.0 %

The company has a 50-day simple moving average of $15.67 and a 200 day simple moving average of $17.10. The company has a market cap of $726.43 million, a P/E ratio of -0.39, a P/E/G ratio of 1.72 and a beta of 1.84. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 3.06.

Paysafe Company Profile

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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.