B. Riley Downgrades Payfare (TSE:PAY) to Hold

Payfare (TSE:PAY) was downgraded by equities research analysts at B. Riley from a “strong-buy” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.

Separately, Raymond James lowered Payfare from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from C$12.00 to C$3.00 in a report on Monday.

Payfare Stock Down 1.5 %

PAY stock opened at C$2.02 on Friday. The company has a 50 day moving average of C$7.63 and a two-hundred day moving average of C$6.82. The company has a quick ratio of 0.32, a current ratio of 1.22 and a debt-to-equity ratio of 0.08. Payfare has a 12-month low of C$1.76 and a 12-month high of C$8.90. The company has a market cap of C$96.92 million, a price-to-earnings ratio of 5.05 and a beta of 2.12.

Payfare (TSE:PAY) last posted 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 the consensus estimate of C$58.97 million. Payfare had a return on equity of 27.84% and a net margin of 9.62%. On average, equities analysts anticipate 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.