Paysafe (NYSE:PSFE) Shares Gap Down After Earnings Miss

Paysafe Limited (NYSE:PSFE) shares gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $19.22, but opened at $17.02. Paysafe shares last traded at $15.18, with a volume of 205,834 shares traded.

The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.17). Paysafe had a negative net margin of 1.38% and a positive return on equity of 12.92%.

Analyst Ratings Changes

Several brokerages have commented on PSFE. Royal Bank of Canada cut their price target on shares of Paysafe from $25.00 to $21.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. UBS Group lifted their price target on shares of Paysafe from $17.00 to $17.50 and gave the stock a “sell” rating in a research note on Wednesday, February 12th. Finally, Susquehanna cut their price objective on shares of Paysafe from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PSFE. Principal Financial Group Inc. purchased a new stake in Paysafe in the third quarter worth about $764,000. Oppenheimer Asset Management Inc. bought a new position in Paysafe in the third quarter worth $225,000. Empowered Funds LLC lifted its position in Paysafe by 5.3% during the third quarter. Empowered Funds LLC now owns 238,448 shares of the company’s stock valued at $5,348,000 after buying an additional 12,060 shares during the period. Foundry Partners LLC bought a new stake in shares of Paysafe during the 3rd quarter valued at $5,450,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Paysafe during the 3rd quarter valued at about $176,000. Institutional investors own 54.39% of the company’s stock.

Paysafe Stock Performance

The company has a market capitalization of $953.22 million, a PE ratio of -41.24, a PEG ratio of 0.48 and a beta of 1.89. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.14 and a current ratio of 1.14. The business’s 50-day moving average is $18.80 and its 200-day moving average is $20.22.

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.