Bank of America Increases Paysafe (NYSE:PSFE) Price Target to $19.00

Paysafe (NYSE:PSFE) had its price objective raised by Bank of America from $16.20 to $19.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have an underperform rating on the stock.

PSFE has been the topic of a number of other research reports. Susquehanna upped their price objective on Paysafe from $16.00 to $23.00 and gave the stock a neutral rating in a report on Thursday, August 15th. Royal Bank of Canada upped their price target on shares of Paysafe from $20.00 to $25.00 and gave the stock a sector perform rating in a research note on Wednesday, August 14th. Finally, UBS Group increased their price target on shares of Paysafe from $16.50 to $17.00 and gave the company a sell rating in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $19.00.

Paysafe Price Performance

Shares of NYSE:PSFE opened at $22.22 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.80. The company has a 50-day moving average price of $19.76 and a 200 day moving average price of $17.06. Paysafe has a 52 week low of $9.25 and a 52 week high of $22.55. The company has a market cap of $1.35 billion, a P/E ratio of -100.98, a PEG ratio of 0.52 and a beta of 1.91.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. New York State Common Retirement Fund grew its stake in Paysafe by 21.4% in the 4th quarter. New York State Common Retirement Fund now owns 17,106 shares of the company’s stock valued at $219,000 after acquiring an additional 3,016 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Paysafe by 51.6% in the fourth quarter. Russell Investments Group Ltd. now owns 163,458 shares of the company’s stock valued at $2,091,000 after purchasing an additional 55,650 shares in the last quarter. Jump Financial LLC lifted its holdings in shares of Paysafe by 26.0% in the fourth quarter. Jump Financial LLC now owns 37,900 shares of the company’s stock valued at $485,000 after purchasing an additional 7,817 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Paysafe during the 4th quarter worth approximately $548,000. Finally, Gabelli Funds LLC raised its position in shares of Paysafe by 21.1% during the 4th quarter. Gabelli Funds LLC now owns 115,000 shares of the company’s stock worth $1,471,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors and hedge funds own 54.39% of the company’s stock.

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.