- The shares of Paysafe Ltd (NYSE: PSFE) have received a price target of $4.50 from Wolfe Research. These are the details.
The shares of Paysafe Ltd (NYSE: PSFE) have received a price target of $4.50 from Wolfe Research. And Wolfe Research analyst Darrin Peller downgraded Paysafe to “Peer Perform” from “Outperform” while adjusting the price target from $14.
Paysafe’s stock price fell over 40% this past week after the company reported its third quarter sales. And Paysafe had missed estimates and they made downward revisions on its full-year outlook.
Paysafe had reported sales of $354 million for the quarter – which was below analyst forecasts of $370.6 million and down from $355 million a year earlier.
And the adjusted EBITDA of $106.4 million fell 1% but topped estimates of $104.7 million. The loss in the quarter was $147.2 million, compared to a year-earlier loss of $38.1 million.
Going forward, Paysafe expects revenues of $1.47 billion to $1.48 billion — down from their previous guidance of $1.53 billion to $1.55 billion. The revised expectations were lowered due to gambling regulations and softness in the European markets.
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