Payoneer Global (NASDAQ:PAYO) Reaches New 1-Year Low Following Analyst Downgrade

Shares of Payoneer Global Inc. (NASDAQ:PAYO) reached a new 52-week low on Monday after Keefe, Bruyette & Woods lowered their price target on the stock from $7.50 to $7.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Payoneer Global traded as low as $4.08 and last traded at $4.4150, with a volume of 533380 shares. The stock had previously closed at $4.32.

PAYO has been the topic of several other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Payoneer Global in a research note on Thursday, January 22nd. Benchmark dropped their price target on Payoneer Global from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, December 23rd. Jefferies Financial Group set a $7.00 price objective on Payoneer Global in a research note on Wednesday, November 5th. Needham & Company LLC cut their target price on Payoneer Global from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Finally, Wall Street Zen upgraded Payoneer Global from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.43.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its position in Payoneer Global by 246.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock worth $33,000 after buying an additional 3,298 shares in the last quarter. CWM LLC raised its holdings in shares of Payoneer Global by 178.6% during the fourth quarter. CWM LLC now owns 9,384 shares of the company’s stock worth $53,000 after acquiring an additional 6,016 shares in the last quarter. Vident Advisory LLC acquired a new stake in Payoneer Global during the fourth quarter valued at $58,000. Empowered Funds LLC purchased a new position in Payoneer Global in the fourth quarter valued at about $63,000. Finally, Quarry LP increased its position in Payoneer Global by 9,273.2% in the 3rd quarter. Quarry LP now owns 10,498 shares of the company’s stock worth $64,000 after purchasing an additional 10,386 shares during the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.

Payoneer Global Stock Performance

The company has a market capitalization of $1.63 billion, a PE ratio of 24.11, a P/E/G ratio of 4.85 and a beta of 1.10. The stock has a 50 day moving average price of $5.58 and a two-hundred day moving average price of $5.92.

Payoneer Global (NASDAQ:PAYO) last posted its earnings results on Thursday, February 26th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Payoneer Global had a net margin of 6.95% and a return on equity of 10.89%. The business had revenue of $274.69 million during the quarter, compared to analyst estimates of $282.79 million. During the same quarter last year, the firm earned $0.05 earnings per share. Payoneer Global’s revenue was up 5.0% compared to the same quarter last year. Sell-side analysts predict that Payoneer Global Inc. will post 0.34 earnings per share for the current year.

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.