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

Paysafe Limited (NYSE:PSFE - Get Free Report)'s share price gapped down prior to trading on Tuesday following a weaker than expected 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 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.32). Paysafe had a positive return on equity of 12.92% and a negative net margin of 1.38%. The firm had revenue of $401.00 million during the quarter, compared to the consensus estimate of $404.45 million.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PSFE. Susquehanna reduced their price target on shares of Paysafe from $17.00 to $15.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Bank of America upgraded shares of Paysafe from an "underperform" rating to a "neutral" rating and set a $14.30 price objective on the stock in a research note on Friday. Finally, UBS Group raised their price target on shares of Paysafe from $17.00 to $17.50 and gave the company a "sell" rating in a research note on Wednesday, February 12th.

Hedge Funds Weigh In On Paysafe

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC increased its position in shares of Paysafe by 5.7% in the fourth quarter. SG Americas Securities LLC now owns 13,903 shares of the company's stock worth $238,000 after purchasing an additional 754 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Paysafe by 5.8% in the third quarter. JPMorgan Chase & Co. now owns 15,183 shares of the company's stock worth $341,000 after purchasing an additional 835 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Paysafe by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 38,769 shares of the company's stock worth $608,000 after buying an additional 1,042 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Paysafe by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,315 shares of the company's stock worth $193,000 after purchasing an additional 1,237 shares during the last quarter. Finally, Spire Wealth Management grew its stake in shares of Paysafe by 87.8% during the 1st quarter. Spire Wealth Management now owns 2,845 shares of the company's stock valued at $45,000 after acquiring an additional 1,330 shares during the period. 54.39% of the stock is owned by hedge funds and other institutional investors.

Paysafe Stock Up 3.0%

The firm has a market capitalization of $770.28 million, a P/E ratio of -33.84, a P/E/G ratio of 0.48 and a beta of 1.90. The company has a 50 day simple moving average of $15.29 and a two-hundred day simple moving average of $17.74. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 2.76.

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.