Bank of America Corp DE Grows Position in Payoneer Global Inc. (NASDAQ:PAYO)

Bank of America Corp DE lifted its position in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 34.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,508,530 shares of the company’s stock after purchasing an additional 636,473 shares during the quarter. Bank of America Corp DE owned about 0.70% of Payoneer Global worth $25,186,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PAYO. Susquehanna Capital Management LLC lifted its position in Payoneer Global by 290.3% during the fourth quarter. Susquehanna Capital Management LLC now owns 25,268,954 shares of the company’s stock valued at $253,700,000 after buying an additional 18,794,047 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Payoneer Global by 5.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,709,989 shares of the company’s stock valued at $87,450,000 after acquiring an additional 440,231 shares during the period. American Century Companies Inc. lifted its position in Payoneer Global by 24.8% during the 4th quarter. American Century Companies Inc. now owns 8,166,652 shares of the company’s stock valued at $81,993,000 after acquiring an additional 1,624,948 shares during the period. Geode Capital Management LLC boosted its stake in Payoneer Global by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 6,777,377 shares of the company’s stock worth $68,059,000 after acquiring an additional 156,252 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Payoneer Global by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,982,879 shares of the company’s stock worth $60,067,000 after purchasing an additional 377,008 shares during the period. 82.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PAYO shares. Keefe, Bruyette & Woods upgraded shares of Payoneer Global from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $7.00 to $9.00 in a report on Tuesday, May 13th. The Goldman Sachs Group lowered their price objective on Payoneer Global from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Citigroup boosted their target price on Payoneer Global from $14.50 to $16.50 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Needham & Company LLC reduced their price target on Payoneer Global from $14.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Payoneer Global in a research report on Monday, February 3rd. They issued a “buy” rating and a $13.00 price target for the company. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Payoneer Global presently has an average rating of “Buy” and a consensus price target of $11.64.

Payoneer Global Stock Up 1.5%

Shares of Payoneer Global stock opened at $7.21 on Monday. Payoneer Global Inc. has a twelve month low of $5.03 and a twelve month high of $11.29. The company’s 50 day moving average is $6.91 and its 200 day moving average is $9.01. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.88 and a beta of 1.03.

Payoneer Global (NASDAQ:PAYO) last announced its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The company had revenue of $246.62 million for the quarter, compared to analysts’ expectations of $244.52 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. Payoneer Global’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Sell-side analysts expect that Payoneer Global Inc. will post 0.34 EPS for the current fiscal year.

About Payoneer Global

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.