Payfare (TSE:PAY) Shares Up 80.6% - What's Next?

Payfare Inc. (TSE:PAY - Get Free Report)'s stock price was up 80.6% during trading on Monday . The company traded as high as C$3.85 and last traded at C$3.81. Approximately 903,602 shares traded 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

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

Payfare Trading Up 80.1 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 0.32. The company has a market capitalization of C$182.32 million, a price-to-earnings ratio of 9.50 and a beta of 1.80. The business has a fifty day moving average price of C$2.14 and a 200 day moving average price of C$5.02.

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.