- Credit Suisse analyst Timothy Chiodo downgraded Paysafe Ltd PSFE to Neutral from Outperform with a price target of $9, down from $12, implying a 19% upside.
- The analyst sees a more balanced risk/reward at current share levels and minimal upside potential to 2022 and 2023 organic estimates.
- Since Paysafe updated its medium-term outlook in March, Chiodo has learned of "unexpected shedding" of direct marketing merchants, deterioration in the integrated processing take rate, and "substantially lower-than-expected" digital wallet volume.
- These suggest minimal upside to Street estimates and potential downside risk, says the analyst.
- Price Action: PSFE shares closed lower by 6.91% at $7.54 on Monday.
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