Paysafe Digital Wallet Users Up 6%, BTIG Targets 31.8% Upside
BTIG set a $10 price target implying 31.8% upside, and Pomerantz LLP filed a securities fraud class action with an April 7 deadline. Paysafe's digital wallet users rose 6% to 7.8 million in Q4, driving 13% revenue growth to $220.2 million with a 4% EBITDA increase to $93.1 million.
1. BTIG Raises Price Target
On March 3, BTIG analyst Andrew Harte set a $10 target for Paysafe, implying 31.79% upside from its prior $7.59 share price. This upgrade reflects confidence in the company’s growth prospects as it expands its global payments services.
2. Securities Fraud Class Action Filed
Pomerantz LLP initiated a class action accusing Paysafe of securities fraud, establishing an April 7 deadline for claims. The lawsuit could introduce potential liabilities and heighten scrutiny on Paysafe’s disclosures and governance.
3. Digital Wallet Segment Accelerates Growth
Paysafe’s digital wallet users increased by 6% to 7.8 million in Q4, boosting segment revenue by 13% year-over-year to $220.2 million and lifting adjusted EBITDA by 4% to $93.1 million. Management credited the expansion of eCommerce, iGaming and the Paysafe Wallet rollout across 18 countries.