Why Paysafe Stock Jumped 12% on Thursday
Paysafe (NYSE: PSFE) shareholders beat the market on Thursday morning as shares rose 12% by 11 a.m. ET compared to a 1.1% increase in the wider market. It helped that the broader market jumped, but Paysafe also benefited from improving sentiment from Wall Street pros.
An analyst at the Wall Street firm Cowen upgraded the digital gambling and payments processing stock and issued an aggressive short-term outlook that sees the stock nearly doubling over the next year. Shares might reach $7, according to Cowen, as Paysafe expands its sales footprint in the U.S. and Europe.
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Source Fool.com
