Susquehanna Reiterates Neutral Rating on Paysafe (PSFE)

Susquehanna analyst James Friedman reiterated a Neutral rating and $23.00 price target on Paysafe (NYSE: PSFE).

The analyst commented: "We recently caught up with PSFE to take a fresh look at its strategy, which has been delivering accelerating growth since CEO Bruce Lowthers took over two summers ago. Anchors of the strategy include growing the Direct channel (which the company hopes to be bigger than its ISO channel), the ramp-up of ~170 new salespeople; prioritizing verticals (e.g., Gaming, Travel & Retail), and focusing on SMB and eCom. This plan makes sense to us, and the margin on Direct can be a powerful lever. Growing the adoption of the company's digital wallet remains a work in progress, as three-month active users have yet to see growth this year. We are also eager to meet the new CFO. Pending these considerations, we remain Neutral-rated with a $23 price target. Positive trends such as increases in average revenue per user, transactions per user, and growth in certain verticals, including iGaming in North America (+50% Y/Y), have been encouraging. We have yet to see growth in wallet users, and growth in Direct revenue is yet to outpace ISO revenue."

For an analyst ratings summary and ratings history on Paysafe click here. For more ratings news on Paysafe click here.

Shares of Paysafe closed at $21.99 yesterday.

You May Also Be Interested In

• 22nd Century Group files prospectus for warrant share resale
• MicroVision enters agreement to sell up to $42 million in common stock
• Liberty All-Star Equity Fund appoints Loomis Sayles as new manager