Payfare (TSE:PAY) Stock Price Down 1% – What’s Next?

Shares of Payfare Inc. (TSE:PAY) dropped 1% during trading on Thursday . The company traded as low as C$2.00 and last traded at C$2.02. Approximately 585,994 shares changed hands during mid-day trading, an increase of 130% from the average daily volume of 254,698 shares. The stock had previously closed at C$2.04.

Analysts Set New Price Targets

Several equities analysts have commented on PAY shares. Cantor Fitzgerald raised Payfare to a “strong-buy” rating in a research report on Thursday, October 3rd. B. Riley lowered Payfare from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Raymond James lowered Payfare from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from C$12.00 to C$3.00 in a research report on Monday, September 30th.

Payfare Price Performance

The firm has a fifty day moving average of C$3.50 and a 200 day moving average of C$5.70. The company has a market capitalization of C$96.44 million, a P/E ratio of 5.00 and a beta of 1.80. 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 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.