It’s common for stocks to drop sharply after delivering disappointing earnings, but a 42% decline in a post-earnings session is nothing less than brutal. That, however, was the fate of Paysafe (PSFE) stock following last week’s print as the company’s Q3 results and outlook failed to impress. So, where’s Paysafe heading from here? Evercore analyst David Togut believes 2022 will be a “transition year with 2023 demonstrating the first potential proof points of improvement in the digital wallet business.” Along with slashing his outlook, Togut also downgraded Paysafe’s rating from Outperform (i.e. Buy) to In Line (i.e. Hold), and cut the price target from $15 to $4.
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Paysafe (NYSE:PSFE)
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Paysafe (NYSE:PSFE)
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From Jan 2021 to Jan 2022 Click Here for more Paysafe Charts.