Payfare (TSE:PAY) Cut to Market Perform at Raymond James

Raymond James lowered shares of Payfare (TSE:PAY) from an outperform rating to a market perform rating in a research report sent to investors on Monday morning, Marketbeat reports. The brokerage currently has C$3.00 price objective on the stock, down from their previous price objective of C$12.00.

Payfare Stock Performance

The stock has a market capitalization of C$97.88 million, a P/E ratio of 5.25 and a beta of 2.12. Payfare has a 52 week low of C$1.76 and a 52 week high of C$8.90. The stock has a fifty day simple moving average of C$7.47 and a 200-day simple moving average of C$6.75. The company has a current ratio of 1.22, a quick ratio of 0.32 and a debt-to-equity ratio of 0.08.

Payfare (TSE:PAY) last released its earnings results on Wednesday, August 7th. The company reported C$0.16 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.17 by C($0.01). The business had revenue of C$55.99 million during the quarter, compared to analysts’ expectations of C$58.97 million. Payfare had a return on equity of 27.84% and a net margin of 9.62%. On average, analysts expect that Payfare will post 0.6901639 earnings per share for the current year.

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.