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

Raymond James cut shares of Payfare (TSE:PAY) from an outperform rating to a market perform rating in a report released on Monday, MarketBeat.com reports. The firm currently has C$3.00 target price on the stock, down from their prior target price of C$12.00.

Payfare Price Performance

Payfare has a one year low of C$1.76 and a one year high of C$8.90. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.32 and a current ratio of 1.22. The firm has a market capitalization of C$97.88 million, a PE ratio of 5.25 and a beta of 2.12. The stock’s 50-day simple moving average is C$7.47 and its two-hundred day simple moving average is C$6.75.

Payfare (TSE:PAY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported C$0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.17 by C($0.01). The business had revenue of C$55.99 million for the quarter, compared to analyst estimates of C$58.97 million. Payfare had a return on equity of 27.84% and a net margin of 9.62%. As a group, sell-side analysts anticipate that Payfare will post 0.6901639 EPS 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.