Why Paysafe Shares Are Trading Higher Today

Paysafe PSFE shares are trading higher Friday after the company reaffirmed guidance for the first quarter and full-year 2022 and announced it appointed Bruce Lowthers to CEO.

Paysafe reaffirmed adjusted EBITDA guidance of $95 million to $100 million for the first quarter and $440 million to $460 million for full-year 2022.

Lowthers, who will join the company by May 1, will succeed Philip McHugh, who is stepping down as CEO and a member of the company's board.

The company also announced an expanded partnership with gaming company betPARX. As part of the expanded partnership, Paysafe will now provide payments for the betPARX mobile apps for Pennsylvania and New Jersey.

Paysafe is set to announce its first-quarter financial results on May 11.

See Also: Why CrowdStrike Stock Is Trading Higher

PSFE 52-Week Range: $2.58 - $14.95

According to data from Benzinga Pro, the stock was up 9.2% at $3.27 at time of publication.

Photo: rupixen from Pixabay.