Benchmark Issues Pessimistic Forecast for Payoneer Global (NASDAQ:PAYO) Stock Price

Payoneer Global (NASDAQ:PAYO) had its price objective reduced by analysts at Benchmark from $10.00 to $7.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s target price points to a potential upside of 48.94% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Payoneer Global from $7.50 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Needham & Company LLC decreased their target price on Payoneer Global from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Wall Street Zen upgraded Payoneer Global from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Payoneer Global in a research report on Thursday, January 22nd. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $8.00.

Payoneer Global Trading Down 3.1%

PAYO stock opened at $4.70 on Friday. Payoneer Global has a one year low of $4.08 and a one year high of $7.97. The firm has a market capitalization of $1.68 billion, a PE ratio of 24.74, a P/E/G ratio of 0.57 and a beta of 1.09. The firm has a 50-day moving average of $5.51 and a two-hundred day moving average of $5.87.

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

Hedge Funds Weigh In On Payoneer Global

Several institutional investors and hedge funds have recently modified their holdings of PAYO. Bank of Montreal Can raised its holdings in shares of Payoneer Global by 4.4% during the second quarter. Bank of Montreal Can now owns 40,713 shares of the company’s stock worth $279,000 after acquiring an additional 1,710 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Payoneer Global by 4.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 49,815 shares of the company’s stock worth $301,000 after purchasing an additional 1,949 shares during the last quarter. Van ECK Associates Corp increased its position in Payoneer Global by 2.4% in the 4th quarter. Van ECK Associates Corp now owns 84,678 shares of the company’s stock worth $476,000 after purchasing an additional 1,977 shares during the last quarter. Susquehanna International Group LLP raised its stake in shares of Payoneer Global by 9.5% during the 3rd quarter. Susquehanna International Group LLP now owns 24,637 shares of the company’s stock worth $149,000 after purchasing an additional 2,144 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Payoneer Global by 4.1% during the 4th quarter. ProShare Advisors LLC now owns 54,909 shares of the company’s stock valued at $309,000 after buying an additional 2,145 shares during the last quarter. 82.22% of the stock is currently owned by hedge funds and other institutional investors.

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.