Payfare (TSE:PAY) Stock Price Up 80.6% – What’s Next?

Payfare Inc. (TSE:PAY)’s share price rose 80.6% on Monday . The company traded as high as C$3.85 and last traded at C$3.81. Approximately 903,602 shares changed hands during mid-day trading, an increase of 256% from the average daily volume of 253,876 shares. The stock had previously closed at C$2.11.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Cantor Fitzgerald upgraded Payfare to a “strong-buy” rating in a research note on Thursday, October 3rd. Raymond James lowered Payfare from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from C$12.00 to C$3.00 in a research note on Monday, September 30th. Finally, B. Riley cut shares of Payfare from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th.

Payfare Price Performance

The firm has a 50-day simple moving average of C$2.10 and a two-hundred day simple moving average of C$5.04. The company has a market capitalization of C$180.88 million, a price-to-earnings ratio of 9.43 and a beta of 1.80. The company has a current ratio of 1.22, a quick ratio of 0.32 and a debt-to-equity ratio of 0.08.

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.