Raymond James Issues Positive Forecast for Payfare (TSE:PAY) Stock Price

Payfare (TSE:PAY) had its price target hoisted by equities researchers at Raymond James from C$3.00 to C$4.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. Raymond James’ target price would suggest a potential upside of 4.17% from the stock’s current price.

PAY has been the topic of a number of other reports. Cantor Fitzgerald raised Payfare to a “strong-buy” rating in a research note on Thursday, October 3rd. B. Riley cut Payfare from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th.

Payfare Trading Down 0.3 %

PAY opened at C$3.84 on Monday. The company has a fifty day moving average price of C$2.27 and a two-hundred day moving average price of C$4.95. Payfare has a 1-year low of C$1.76 and a 1-year high of C$8.90. The company has a market cap of C$184.24 million, a P/E ratio of 9.60 and a beta of 1.80. The company has a current ratio of 1.22, a quick ratio of 0.32 and a debt-to-equity ratio of 0.08.

Payfare Company Profile

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.