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

Paysafe Limited (NYSE:PSFE)’s stock price gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $16.25, but opened at $15.16. Paysafe shares last traded at $14.73, with a volume of 61,943 shares changing hands.

The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.32). Paysafe had a negative net margin of 1.38% and a positive return on equity of 12.92%.

Analysts Set New Price Targets

PSFE has been the topic of several research reports. UBS Group increased their price target on shares of Paysafe from $17.00 to $17.50 and gave the company a “sell” rating in a research report on Wednesday, February 12th. Bank of America cut their price target on shares of Paysafe from $18.00 to $16.00 and set an “underperform” rating on the stock in a report on Monday, March 10th. Finally, Susquehanna decreased their target price on shares of Paysafe from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd.

Hedge Funds Weigh In On Paysafe

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nuveen LLC bought a new stake in Paysafe during the first quarter worth about $1,439,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Paysafe by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,315 shares of the company’s stock valued at $193,000 after purchasing an additional 1,237 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Paysafe by 115.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 167,496 shares of the company’s stock worth $2,628,000 after buying an additional 89,685 shares during the period. Levin Capital Strategies L.P. acquired a new stake in shares of Paysafe during the 1st quarter worth approximately $188,000. Finally, XTX Topco Ltd acquired a new stake in shares of Paysafe during the 1st quarter worth approximately $267,000. 54.39% of the stock is owned by institutional investors.

Paysafe Trading Down 10.1%

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 has a fifty day moving average of $15.43 and a 200-day moving average of $17.87. The company has a market capitalization of $874.96 million, a P/E ratio of -38.61, a PEG ratio of 0.48 and a beta of 1.90.

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.