Payoneer Global (NASDAQ:PAYO) Reaches New 1-Year High – Here’s Why

Payoneer Global Inc. (NASDAQ:PAYO)’s stock price reached a new 52-week high on Wednesday. The stock traded as high as $7.21 and last traded at $7.2150, with a volume of 1,615,290 shares traded. The stock had previously closed at $7.16.

Analyst Ratings Changes

Several research firms have recently weighed in on PAYO. Deutsche Bank Aktiengesellschaft cut shares of Payoneer Global from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Weiss Ratings upgraded Payoneer Global from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, September 1st. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Payoneer Global presently has an average rating of “Hold” and an average price target of $7.40.

Payoneer Global Stock Performance

The stock’s 50-day moving average is $7.14 and its 200-day moving average is $6.15. The stock has a market cap of $2.43 billion, a P/E ratio of 51.15, a price-to-earnings-growth ratio of 1.83 and a beta of 0.97.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07). The company had revenue of $274.26 million for the quarter, compared to the consensus estimate of $270.98 million. Payoneer Global had a return on equity of 9.97% and a net margin of 4.65%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 earnings per share. On average, equities analysts forecast that Payoneer Global Inc. will post 0.16 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PAYO. BlackRock Inc. acquired a new stake in Payoneer Global in the second quarter worth approximately $278,076,000. Pentwater Capital Management LP acquired a new position in shares of Payoneer Global during the 2nd quarter valued at $70,405,000. Bank of America Corp DE acquired a new position in shares of Payoneer Global during the 2nd quarter valued at $26,398,000. Bank of New York Mellon Corp acquired a new position in shares of Payoneer Global during the 2nd quarter valued at $10,549,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Payoneer Global by 2,061.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,013,014 shares of the company’s stock worth $4,893,000 after buying an additional 966,146 shares in the last quarter. Institutional investors and hedge funds own 82.22% of the company’s stock.

About Payoneer Global

Payoneer Global Inc (NASDAQ: PAYO) operates a global financial technology platform that helps businesses, online marketplaces, freelancers and other professionals send, receive and manage payments across borders. Its services are designed to support companies that operate internationally, including small and medium-sized businesses and digital commerce participants.

The company provides multi-currency receiving accounts, cross-border payouts, supplier and contractor payments, currency conversion and other business payment tools.