Payfare Inc. (TSE:PAY – Get Free Report) traded down 1.9% during mid-day trading on Friday . The stock traded as low as C$2.04 and last traded at C$2.08. 859,977 shares changed hands during mid-day trading, an increase of 249% from the average session volume of 246,062 shares. The stock had previously closed at C$2.12.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on PAY. Raymond James lowered Payfare from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from C$12.00 to C$3.00 in a research note on Monday, September 30th. Cantor Fitzgerald raised Payfare to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, B. Riley downgraded Payfare from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th.
Check Out Our Latest Research Report on Payfare
Payfare Stock Down 1.9 %
Payfare (TSE:PAY – Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported C$0.16 EPS for the quarter, missing the consensus estimate of C$0.17 by C($0.01). The business had revenue of C$55.99 million during 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%. Equities analysts expect that Payfare Inc. will post 0.1716172 earnings per share 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.
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