Raymond James Raises Payfare (TSE:PAY) Price Target to C$12.00

Payfare (TSE:PAY) had its price objective boosted by Raymond James from C$10.00 to C$12.00 in a research report sent to investors on Thursday morning, BayStreet.CA reports.

Payfare Trading Down 3.0 %

Shares of TSE:PAY traded down C$0.23 during trading on Thursday, reaching C$7.35. The stock had a trading volume of 139,962 shares, compared to its average volume of 153,600. Payfare has a 52 week low of C$4.09 and a 52 week high of C$8.10. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.32 and a current ratio of 1.25. The firm’s fifty day moving average is C$6.45 and its 200 day moving average is C$6.64. The stock has a market cap of C$352.43 million, a price-to-earnings ratio of 21.62 and a beta of 2.11.

Payfare (TSE:PAY) last issued its quarterly earnings results on Wednesday, May 8th. The company reported C$0.15 EPS for the quarter, meeting analysts’ consensus estimates of C$0.15. Payfare had a net margin of 8.66% and a return on equity of 25.51%. The business had revenue of C$51.90 million for the quarter. As a group, equities analysts forecast that Payfare will post 0.724878 EPS for the current fiscal year.

About Payfare

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.