Voya Investment Management LLC Purchases 189,509 Shares of Payoneer Global Inc. $PAYO

Voya Investment Management LLC raised its stake in Payoneer Global Inc. (NASDAQ:PAYO) by 31.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 787,697 shares of the company’s stock after buying an additional 189,509 shares during the period. Voya Investment Management LLC owned about 0.22% of Payoneer Global worth $5,758,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Payoneer Global by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 33,881,608 shares of the company’s stock valued at $247,675,000 after purchasing an additional 3,656,056 shares during the period. American Century Companies Inc. raised its stake in shares of Payoneer Global by 15.1% in the first quarter. American Century Companies Inc. now owns 9,403,250 shares of the company’s stock worth $68,738,000 after purchasing an additional 1,236,598 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Payoneer Global by 3.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,970,295 shares of the company’s stock worth $65,574,000 after purchasing an additional 260,306 shares during the last quarter. Millennium Management LLC raised its stake in shares of Payoneer Global by 15.5% in the first quarter. Millennium Management LLC now owns 7,537,691 shares of the company’s stock worth $55,101,000 after purchasing an additional 1,014,096 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Payoneer Global by 50.1% in the first quarter. Victory Capital Management Inc. now owns 4,395,656 shares of the company’s stock worth $32,132,000 after purchasing an additional 1,467,357 shares during the last quarter. 82.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on PAYO shares. Jefferies Financial Group increased their price target on Payoneer Global from $8.00 to $8.50 and gave the company a “buy” rating in a research report on Tuesday, May 27th. Wall Street Zen lowered Payoneer Global from a “hold” rating to a “sell” rating in a report on Tuesday, September 9th. Deutsche Bank Aktiengesellschaft assumed coverage on Payoneer Global in a report on Thursday, July 17th. They set a “buy” rating and a $8.00 price objective for the company. Needham & Company LLC increased their price objective on Payoneer Global from $8.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Citigroup reaffirmed a “buy” rating and issued a $10.00 price target (down from $13.00) on shares of Payoneer Global in a report on Thursday, May 22nd. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.06.

Payoneer Global Price Performance

NASDAQ PAYO opened at $6.64 on Friday. The business’s 50-day moving average is $6.73 and its 200 day moving average is $6.85. The stock has a market capitalization of $2.39 billion, a PE ratio of 25.54, a PEG ratio of 8.92 and a beta of 0.98. Payoneer Global Inc. has a 1 year low of $5.71 and a 1 year high of $11.29.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Payoneer Global had a net margin of 9.81% and a return on equity of 13.42%. The firm had revenue of $260.61 million for the quarter, compared to the consensus estimate of $253.17 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Payoneer Global Inc. will post 0.34 earnings per share for the current year.

Payoneer Global Profile

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.