Payfare (TSE:PAY) Trading 0.7% Higher – Still a Buy?

Payfare Inc. (TSE:PAY)’s stock price traded up 0.7% during trading on Friday . The stock traded as high as C$2.28 and last traded at C$2.25. 145,813 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 255,970 shares. The stock had previously closed at C$2.24.

Analysts Set New Price Targets

Several research firms have recently weighed in on PAY. Cantor Fitzgerald raised shares of Payfare to a “strong-buy” rating in a report on Thursday, October 3rd. B. Riley lowered Payfare from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. Finally, Raymond James cut Payfare from an “outperform” rating to a “market perform” rating and lowered their price target for the company from C$12.00 to C$3.00 in a report on Monday, September 30th.

Payfare Trading Up 0.7 %

The stock’s 50 day simple moving average is C$2.11 and its 200 day simple moving average is C$5.19. The firm has a market cap of C$107.96 million, a PE ratio of 5.63 and a beta of 1.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.32 and a current ratio of 1.22.

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.