Payoneer Global (NASDAQ:PAYO) Shares Down 4.9% on Analyst Downgrade

Payoneer Global Inc. (NASDAQ:PAYO) shares were down 4.9% during trading on Tuesday after Benchmark lowered their price target on the stock from $12.00 to $10.00. Benchmark currently has a buy rating on the stock. Payoneer Global traded as low as $5.49 and last traded at $5.4950. Approximately 440,982 shares changed hands during trading, a decline of 86% from the average daily volume of 3,224,341 shares. The stock had previously closed at $5.78.

PAYO has been the subject of several other research reports. Jefferies Financial Group set a $7.00 price objective on shares of Payoneer Global in a research report on Wednesday, November 5th. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price objective on shares of Payoneer Global in a research note on Monday, October 6th. Wall Street Zen upgraded Payoneer Global from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Payoneer Global in a report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.00.

Institutional Trading of Payoneer Global

A number of hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC bought a new position in Payoneer Global in the 1st quarter valued at $194,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Payoneer Global during the first quarter worth about $34,000. Price T Rowe Associates Inc. MD raised its position in Payoneer Global by 3.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,970,295 shares of the company’s stock worth $65,574,000 after acquiring an additional 260,306 shares during the period. Ieq Capital LLC raised its position in Payoneer Global by 24.4% in the first quarter. Ieq Capital LLC now owns 86,385 shares of the company’s stock worth $631,000 after acquiring an additional 16,947 shares during the period. Finally, OMERS ADMINISTRATION Corp boosted its stake in Payoneer Global by 665.3% in the first quarter. OMERS ADMINISTRATION Corp now owns 262,500 shares of the company’s stock valued at $1,919,000 after acquiring an additional 228,200 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors.

Payoneer Global Trading Down 4.8%

The stock’s 50-day moving average price is $5.75 and its two-hundred day moving average price is $6.33. The stock has a market capitalization of $1.96 billion, a P/E ratio of 28.92, a P/E/G ratio of 7.85 and a beta of 1.00.

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