** Shares of payments platform Paysafe PSFE.N fall about 6.6% to about $6.88 in early trading

** Brokerage BTIG cuts PT on PSFE to $11 from $22, representing a 49.5% upside on stock's last close

** "PSFE is making strides to optimize its SMB portfolio, but margins are expected to continue facing pressure until direct sales efforts ramp," BTIG says

** Jefferies cuts PT on PSFE to $8 from $13, representing an 8.7% upside on stock's last close

** Brokerage says merchant revenue growth remains solid, but underlying mix shift continues to weigh on gross margin

** RBC cuts PT on PSFE to $10 from $17, representing a 35.87% upside on stock's last close

** One of seven brokerages rate the stock "strong buy", five "hold" and one "sell"; median PT $10.50 — data compiled by LSEG

** Including session moves, PSFE stock down ~60% YTD

(Reporting by Anuj T in Bengaluru)

((anuj.t@thomsonreuters.com))