Paysafe (NYSE:PSFE) Shares Gap Down – Time to Sell?

Shares of Paysafe Limited (NYSE:PSFE) gapped down before the market opened on Wednesday . The stock had previously closed at $25.47, but opened at $20.80. Paysafe shares last traded at $19.62, with a volume of 159,725 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Bank of America upped their price target on Paysafe from $16.20 to $19.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 27th. Susquehanna reiterated a “neutral” rating and issued a $23.00 price objective on shares of Paysafe in a report on Tuesday, October 15th. UBS Group increased their price target on Paysafe from $16.50 to $17.00 and gave the company a “sell” rating in a report on Wednesday, August 14th. Finally, Royal Bank of Canada increased their price target on shares of Paysafe from $20.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $19.00.

Paysafe Price Performance

The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 2.83. The stock has a fifty day moving average of $22.23 and a 200 day moving average of $19.99.

Paysafe (NYSE:PSFE) last announced its earnings results on Tuesday, August 13th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.07). The business had revenue of $439.92 million for the quarter, compared to analyst estimates of $428.40 million. Paysafe had a positive return on equity of 14.42% and a negative net margin of 0.78%. On average, equities analysts anticipate that Paysafe Limited will post 1.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Paysafe

A number of institutional investors have recently made changes to their positions in PSFE. Harvest Fund Management Co. Ltd purchased a new position in Paysafe during the 3rd quarter valued at about $176,000. Foundry Partners LLC purchased a new position in shares of Paysafe in the third quarter valued at approximately $5,450,000. Empowered Funds LLC grew its holdings in shares of Paysafe by 5.3% in the third quarter. Empowered Funds LLC now owns 238,448 shares of the company’s stock valued at $5,348,000 after purchasing an additional 12,060 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Paysafe during the 3rd quarter worth approximately $225,000. Finally, Principal Financial Group Inc. acquired a new stake in Paysafe during the 3rd quarter worth approximately $764,000. 54.39% of the stock is currently owned by institutional investors and hedge funds.

Paysafe Company Profile

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.