Payoneer Global (NASDAQ:PAYO) Trading Down 0.2% – What’s Next?

Payoneer Global Inc. (NASDAQ:PAYO)’s share price dropped 0.2% on Friday . The stock traded as low as $5.33 and last traded at $5.39. Approximately 3,859,549 shares changed hands during mid-day trading, an increase of 33% from the average daily volume of 2,912,061 shares. The stock had previously closed at $5.40.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PAYO. Wall Street Zen upgraded shares of Payoneer Global from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Benchmark cut their target price on shares of Payoneer Global from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, December 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Payoneer Global in a research report on Wednesday, October 8th. Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of Payoneer Global in a research report on Monday, October 6th. Finally, Jefferies Financial Group set a $7.00 target price on Payoneer Global in a research note on Wednesday, November 5th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Payoneer Global Stock Down 0.2%

The firm’s 50 day moving average is $5.62 and its 200-day moving average is $6.18. The firm has a market cap of $1.92 billion, a PE ratio of 28.37, a P/E/G ratio of 5.18 and a beta of 1.00.

Payoneer Global (NASDAQ:PAYO) last released its earnings results on Wednesday, November 5th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). Payoneer Global had a return on equity of 10.71% and a net margin of 6.96%.The firm had revenue of $270.85 million during the quarter, compared to analysts’ expectations of $262.66 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. On average, analysts forecast that Payoneer Global Inc. will post 0.34 earnings per share for the current year.

Institutional Trading of Payoneer Global

A number of hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its holdings in Payoneer Global by 299.7% in the 1st quarter. Royal Bank of Canada now owns 158,997 shares of the company’s stock valued at $1,162,000 after buying an additional 119,219 shares during the period. AQR Capital Management LLC grew its holdings in Payoneer Global by 8.8% in the first quarter. AQR Capital Management LLC now owns 291,908 shares of the company’s stock valued at $2,134,000 after purchasing an additional 23,533 shares during the period. Caxton Associates LLP purchased a new stake in Payoneer Global in the first quarter valued at approximately $172,000. United Services Automobile Association acquired a new position in Payoneer Global during the first quarter worth approximately $126,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Payoneer Global by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 757,827 shares of the company’s stock worth $5,540,000 after purchasing an additional 41,970 shares during the period. 82.22% of the stock is owned by institutional investors and hedge funds.

Payoneer Global Company Profile

Payoneer Global (NASDAQ: PAYO) operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company’s core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.