Paysafe price target raised to $16 from $14 at Susquehanna

Susquehanna raised the firm’s price target on Paysafe to $16 from $14 and keeps a Neutral rating on the shares. The firm said 1Q has many highlights, including a strong revenue beat, 67 enterprise wins, 5% year-over-year growth in classic digital wallet users, and average revenue per user (ARPU) growth of 5%. Despite these positive points, management is staying conservative for now and reiterating the 2024 guidance laid out in their 4Q23 call.