Royal Bank of Canada Cuts Paysafe (NYSE:PSFE) Price Target to $21.00

Paysafe (NYSE:PSFE) had its target price trimmed by Royal Bank of Canada from $25.00 to $21.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

A number of other analysts have also recently weighed in on PSFE. Susquehanna dropped their price objective on shares of Paysafe from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday. Bank of America raised their price objective 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, UBS Group raised their price objective on shares of Paysafe from $16.50 to $17.00 and gave the stock a “sell” rating in a research note on Wednesday, August 14th. Two research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Paysafe Price Performance

Shares of PSFE stock opened at $17.67 on Thursday. The company has a market capitalization of $1.07 billion, a PE ratio of -46.50, a price-to-earnings-growth ratio of 0.48 and a beta of 1.91. The firm has a fifty day simple moving average of $22.03 and a 200-day simple moving average of $20.03. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 2.83. Paysafe has a twelve month low of $10.05 and a twelve month high of $26.25.

Institutional Trading of Paysafe

Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its position in Paysafe by 14.3% in the first quarter. Russell Investments Group Ltd. now owns 186,811 shares of the company’s stock valued at $2,950,000 after purchasing an additional 23,353 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Paysafe by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 173,192 shares of the company’s stock valued at $2,735,000 after buying an additional 11,884 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Paysafe by 16.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 20,650 shares of the company’s stock valued at $326,000 after buying an additional 2,950 shares during the last quarter. Gabelli Funds LLC lifted its holdings in Paysafe by 32.6% during the 1st quarter. Gabelli Funds LLC now owns 152,500 shares of the company’s stock worth $2,408,000 after purchasing an additional 37,500 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Paysafe by 39.1% during the 1st 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 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.