Paysafe (NYSE:PSFE) Price Target Raised to $19.00 at Bank of America

Paysafe (NYSE:PSFE) had its price objective hoisted by equities researchers at Bank of America from $16.20 to $19.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “underperform” rating on the stock. Bank of America‘s target price indicates a potential downside of 12.84% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Susquehanna raised their price objective on shares of Paysafe from $16.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. 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 report on Wednesday, August 14th. Finally, UBS Group lifted their price objective on shares of Paysafe from $16.50 to $17.00 and gave the company a “sell” rating in a report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Paysafe has a consensus rating of “Hold” and a consensus price target of $19.00.

Paysafe Stock Down 0.5 %

Shares of PSFE opened at $21.80 on Tuesday. The stock’s 50-day moving average price is $19.52 and its 200-day moving average price is $16.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.80. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -99.09, a PEG ratio of 0.52 and a beta of 1.91. Paysafe has a 52 week low of $9.25 and a 52 week high of $22.38.

Hedge Funds Weigh In On Paysafe

A number of large investors have recently added to or reduced their stakes in PSFE. Cannae Holdings Inc. boosted its stake in Paysafe by 92.9% during the 1st quarter. Cannae Holdings Inc. now owns 3,379,887 shares of the company’s stock worth $53,368,000 after purchasing an additional 1,628,183 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Paysafe by 24.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,633,280 shares of the company’s stock valued at $28,876,000 after acquiring an additional 324,207 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Paysafe by 39.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 302,765 shares of the company’s stock valued at $4,781,000 after acquiring an additional 85,170 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Paysafe during the 2nd quarter worth approximately $3,702,000. Finally, Renaissance Technologies LLC grew its position in shares of Paysafe by 31.8% in the second quarter. Renaissance Technologies LLC now owns 204,287 shares of the company’s stock valued at $3,612,000 after purchasing an additional 49,300 shares in the last quarter. 54.39% of the stock is currently owned by institutional investors and hedge funds.

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.