BUZZ-Paysafe extends selloff as multiple brokerages cut PT

Reuters11-14
BUZZ-Paysafe extends selloff as multiple brokerages cut PT 

** Shares of payments platform Paysafe PSFE.N fall about 6.6% to about $6.88 in early trading

** Brokerage BTIG cuts PT on PSFE to $11 from $22, representing a 49.5% upside on stock's last close

** "PSFE is making strides to optimize its SMB portfolio, but margins are expected to continue facing pressure until direct sales efforts ramp," BTIG says

** Jefferies cuts PT on PSFE to $8 from $13, representing an 8.7% upside on stock's last close

** Brokerage says merchant revenue growth remains solid, but underlying mix shift continues to weigh on gross margin

** RBC cuts PT on PSFE to $10 from $17, representing a 35.87% upside on stock's last close

** One of seven brokerages rate the stock "strong buy", five "hold" and one "sell"; median PT $10.50 — data compiled by LSEG

** Including session moves, PSFE stock down ~60% YTD

(Reporting by Anuj T in Bengaluru)

((anuj.t@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment