Paysafe (NYSE:PSFE) Sets New 52-Week High at $23.50

Paysafe Limited (NYSE:PSFE)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $23.50 and last traded at $23.24, with a volume of 87297 shares. The stock had previously closed at $22.82.

Wall Street Analyst Weigh In

PSFE has been the subject of a number of research analyst reports. UBS Group lifted their target price on Paysafe from $16.50 to $17.00 and gave the company a “sell” rating in a research report on Wednesday, August 14th. Royal Bank of Canada boosted their price target on Paysafe from $20.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 14th. Bank of America increased their target price on shares of Paysafe from $16.20 to $19.00 and gave the company an “underperform” rating in a research report on Tuesday, August 27th. Finally, Susquehanna raised their price target on Paysafe from $16.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Two investment 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. According to data from MarketBeat.com, Paysafe currently has a consensus rating of “Hold” and an average target price of $19.00.

Paysafe Price Performance

The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 2.83. The stock’s 50 day moving average price is $20.90 and its two-hundred day moving average price is $17.86. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -103.73, a price-to-earnings-growth ratio of 0.56 and a beta of 1.92.

Paysafe (NYSE:PSFE) last announced its quarterly 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 company 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%. Equities research analysts forecast that Paysafe Limited will post 1.92 EPS for the current fiscal year.

Institutional Trading of Paysafe

A number of hedge funds have recently added to or reduced their stakes in PSFE. Cannae Holdings Inc. increased its holdings in Paysafe by 92.9% in the first quarter. Cannae Holdings Inc. now owns 3,379,887 shares of the company’s stock valued at $53,368,000 after buying an additional 1,628,183 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Paysafe by 24.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,633,280 shares of the company’s stock valued at $28,876,000 after purchasing an additional 324,207 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Paysafe in the 2nd quarter valued at about $3,702,000. CastleKnight Management LP raised its holdings in Paysafe by 631.6% in the 4th quarter. CastleKnight Management LP now owns 112,241 shares of the company’s stock worth $1,436,000 after purchasing an additional 96,900 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in Paysafe by 39.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 302,765 shares of the company’s stock worth $4,781,000 after purchasing an additional 85,170 shares in the last quarter. 54.39% of the stock is owned by hedge funds and other institutional investors.

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.