Bank of America Begins Coverage on Payoneer Global (NASDAQ:PAYO)

Stock analysts at Bank of America assumed coverage on shares of Payoneer Global (NASDAQ:PAYO) in a research note issued on Wednesday, Marketbeat.com reports. The firm set a “buy” rating and a $6.00 price target on the stock. Bank of America‘s price target points to a potential upside of 20.24% from the stock’s previous close.

PAYO has been the subject of a number of other reports. Needham & Company LLC reduced their price target on shares of Payoneer Global from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Benchmark dropped their target price on shares of Payoneer Global from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, March 6th. Wall Street Zen raised shares of Payoneer Global from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Payoneer Global in a research note on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods lowered their price target on Payoneer Global from $7.50 to $7.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.75.

Payoneer Global Price Performance

Payoneer Global stock opened at $4.99 on Wednesday. Payoneer Global has a one year low of $4.08 and a one year high of $7.66. The stock has a market capitalization of $1.72 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 0.60 and a beta of 1.09. The business’s fifty day moving average is $5.28 and its 200 day moving average is $5.67.

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

Hedge Funds Weigh In On Payoneer Global

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in Payoneer Global by 299.7% during the first 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 last quarter. AQR Capital Management LLC boosted its stake in shares of Payoneer Global by 8.8% during the 1st quarter. AQR Capital Management LLC now owns 291,908 shares of the company’s stock worth $2,134,000 after acquiring an additional 23,533 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Payoneer Global during the 1st quarter worth $172,000. United Services Automobile Association bought a new stake in shares of Payoneer Global during the 1st quarter valued at $126,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Payoneer Global by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 757,827 shares of the company’s stock valued at $5,540,000 after acquiring an additional 41,970 shares during the period. Hedge funds and other institutional investors own 82.22% of the company’s stock.

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.