Payfare (TSE:PAY) Trading 80.6% Higher – What’s Next?

Payfare Inc. (TSE:PAY) shares were up 80.6% during trading on Monday . The company traded as high as C$3.85 and last traded at C$3.81. Approximately 903,602 shares changed hands during trading, an increase of 256% from the average daily volume of 253,876 shares. The stock had previously closed at C$2.11.

Analysts Set New Price Targets

PAY has been the topic of several recent analyst reports. B. Riley downgraded Payfare from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. Raymond James lowered Payfare from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from C$12.00 to C$3.00 in a research note on Monday, September 30th. Finally, Cantor Fitzgerald upgraded Payfare to a “strong-buy” rating in a research report on Thursday, October 3rd.

Payfare Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.32 and a current ratio of 1.22. The firm has a fifty day simple moving average of C$2.10 and a 200 day simple moving average of C$5.04. The company has a market capitalization of C$180.88 million, a PE ratio of 9.43 and a beta of 1.80.

About Payfare

Payfare Inc, a financial technology company, provides instant payout and digital banking solutions to gig economy workers in Canada, the United States, and Mexico. The company offers PayFare, a platform that provides access to earnings, as well as banking services, such as ATM withdrawals, funds transfers, bill payments, and savings wallets; Paid Portal by Payfare, a payout solution for gig workforces; and Paid App by Payfare, a digital banking app.