As previously reported, B. Riley downgraded Payfare (PYFRF) to Neutral from Buy with a price target of C$4, down from C$12. The ending of Payfare’s agreement with DoorDash’s (DASH) DasherDirect card program is a “substantial blow to the company and its earnings power,” the analyst tells investors in a research note. The firm says that while Payfare is working to add new users via earned wage access, the loss of DoorDash “will likely overpower the income statement through 2025 and into 2026.”
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