Paysafe price target raised to $25 from $20 at RBC Capital

RBC Capital raised the firm’s price target on Paysafe to $25 from $20 and keeps a Sector Perform rating on the shares after its Q2 earnings beat. The results and guidance illustrate the company’s continued positive mix shift to a more durable portfolio, improving go-to-market strategy, and stabilization / return to growth within its SMB business, the analyst tells investors in a research note. While pruning additional high-risk merchants from the portfolio will create a headwind for revenue and adjusted EBITDA in the second half of the year, the overall revenue momentum in the first half is enabling the company to increase its FY24 revenue guidance, the firm added.