Paysafe slumps after Q3 results

Paysafe

13/11/2024 20:15

** Shares of payments platform Paysafe  PSFE.N  slide as
much as 27.4%; last down 25.6% at $18.96
    ** PSFE reported on Tuesday Q3 adjusted profit of $31.4 mln,
or 51 cents/shr, compared to $35.3 mln, or 57 cents/shr, a year
earlier
    ** Brokerage BTIG says if it had to pick at something in
PSFE's Q3 results, it would point to the decelerating direct
sales growth of small- and medium-sized businesses that also
impacted gross profit margin
    ** Brokerage says the light Q4 2024 implied revenue growth
forecast of 5.3% might have also disappointed investors
    ** Wall Street expects PSFE's Q4 revenue to grow 6.5%,
according to data compiled by LSEG
    ** BTIG says the selloff represents an attractive buying
opportunity, as nothing in the PSFE story has fundamentally
changed in its view
    ** As of last close, PSFE shares up 99.1% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))