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 report issued on Thursday, Zacks.com reports.

A number of other research firms have also recently commented on PAY. B. Riley cut Payfare from a strong-buy rating to a hold rating in a research report on Friday, September 27th. Raymond James lowered shares of Payfare from an outperform rating to a market perform rating and cut their price target for the stock from C$12.00 to C$3.00 in a report on Monday.

Payfare Price Performance

The company has a quick ratio of 0.32, a current ratio of 1.22 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average price is C$7.39 and its 200 day moving average price is C$6.72. Payfare has a one year low of C$1.76 and a one year high of C$8.90. The firm has a market cap of C$97.88 million, a PE ratio of 5.25 and a beta of 2.12.

Payfare (TSE:PAY) last released its quarterly earnings data 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). Payfare had a net margin of 9.62% and a return on equity of 27.84%. The firm had revenue of C$55.99 million during the quarter, compared to analysts’ expectations of C$58.97 million. 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.