Payfare (TSE:PAY) Trading Up 80.6% – Time to Buy?

Payfare Inc. (TSE:PAY)’s stock price rose 80.6% on Monday . The stock traded as high as C$3.85 and last traded at C$3.81. Approximately 903,602 shares were traded 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

Several research firms have recently issued reports on PAY. Cantor Fitzgerald upgraded shares of Payfare to a “strong-buy” rating in a research note on Thursday, October 3rd. B. Riley downgraded shares of Payfare from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Raymond James increased their price objective on shares of Payfare from C$3.00 to C$4.00 and gave the company a “market perform” rating in a research note on Tuesday.

Payfare Stock Performance

The firm has a market cap of C$184.72 million, a PE ratio of 9.63 and a beta of 1.80. The company has a quick ratio of 0.32, a current ratio of 1.22 and a debt-to-equity ratio of 0.08. The company has a 50-day simple moving average of C$2.17 and a two-hundred day simple moving average of C$5.00.

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.