Payfare (TSE:PAY) Upgraded to Strong-Buy by Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Payfare (TSE:PAY) to a strong-buy rating in a research note issued to investors on Thursday morning, Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. B. Riley cut Payfare from a strong-buy rating to a hold rating in a report on Friday, September 27th. Raymond James downgraded 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 note on Monday, September 30th.

Payfare Trading Up 2.0 %

PAY opened at C$2.08 on Thursday. The company has a market cap of C$99.80 million, a P/E ratio of 5.20 and a beta of 2.12. The company has a current ratio of 1.22, a quick ratio of 0.32 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is C$7.29 and its 200-day moving average is C$6.68. Payfare has a 1-year low of C$1.76 and a 1-year high of C$8.90.

Payfare (TSE:PAY) last issued 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 company had revenue of C$55.99 million during the quarter, compared to analyst estimates of C$58.97 million. Payfare had a net margin of 9.62% and a return on equity of 27.84%. Equities research analysts predict that Payfare will post 0.6901639 earnings per share 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.