Payfare (TSE:PAY) Given New C$4.00 Price Target at Raymond James

Payfare (TSE:PAY) had its target price boosted by stock analysts at Raymond James from C$3.00 to C$4.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. Raymond James’ target price would indicate a potential upside of 3.90% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. B. Riley cut shares of Payfare from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. Cantor Fitzgerald upgraded Payfare to a “strong-buy” rating in a research report on Thursday, October 3rd.

Payfare Stock Up 1.3 %

TSE PAY opened at C$3.85 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 1.22 and a debt-to-equity ratio of 0.08. Payfare has a 52 week low of C$1.76 and a 52 week high of C$8.90. The business’s fifty day simple moving average is C$2.17 and its 200-day simple moving average is C$5.00. The firm has a market cap of C$184.72 million, a PE ratio of 9.63 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.