Payoneer Global (NASDAQ:PAYO) Shares Down 8.2% – Here’s Why

Payoneer Global Inc. (NASDAQ:PAYO) shares traded down 8.2% on Monday . The stock traded as low as $4.99 and last traded at $4.9650. 2,089,688 shares were traded during mid-day trading, a decline of 51% from the average session volume of 4,271,813 shares. The stock had previously closed at $5.41.

Wall Street Analysts Forecast Growth

PAYO has been the subject of a number of research reports. Jefferies Financial Group set a $7.00 target price on shares of Payoneer Global in a research report on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of Payoneer Global in a research note on Thursday, January 22nd. Wall Street Zen raised shares of Payoneer Global from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Benchmark lowered their target price on shares of Payoneer Global from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, December 23rd. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.00.

Payoneer Global Price Performance

The firm’s 50 day moving average is $5.67 and its 200 day moving average is $5.97. The company has a market cap of $1.87 billion, a PE ratio of 27.58, a PEG ratio of 5.59 and a beta of 1.04.

Institutional Investors Weigh In On Payoneer Global

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Payoneer Global by 1.8% in the 4th quarter. State Street Corp now owns 10,772,088 shares of the company’s stock valued at $60,539,000 after acquiring an additional 195,410 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Payoneer Global by 1.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,436,470 shares of the company’s stock worth $58,654,000 after buying an additional 182,614 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Payoneer Global by 10.7% in the 3rd quarter. American Century Companies Inc. now owns 7,326,825 shares of the company’s stock worth $44,327,000 after buying an additional 707,790 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Payoneer Global by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 7,309,436 shares of the company’s stock worth $44,229,000 after acquiring an additional 224,287 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Payoneer Global by 3.3% in the second quarter. Geode Capital Management LLC now owns 7,058,130 shares of the company’s stock worth $48,353,000 after acquiring an additional 226,215 shares in the last quarter. 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.