Payoneer Global (NASDAQ:PAYO) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Payoneer Global (NASDAQ:PAYO) from a sell rating to a hold rating in a research note published on Sunday.

A number of other analysts have also recently issued reports on the company. Keefe, Bruyette & Woods dropped their price objective on Payoneer Global from $7.50 to $7.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Payoneer Global in a report on Thursday, January 22nd. Needham & Company LLC reduced their price objective 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. Finally, Benchmark lowered their target price on shares of Payoneer Global from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Seven equities 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 stock currently has an average rating of “Moderate Buy” and an average target price of $8.00.

Payoneer Global Stock Up 2.5%

Shares of NASDAQ:PAYO opened at $4.54 on Friday. The firm has a market capitalization of $1.62 billion, a PE ratio of 23.90, a P/E/G ratio of 0.55 and a beta of 1.10. Payoneer Global has a twelve month low of $4.08 and a twelve month high of $7.97. The company has a 50-day moving average price of $5.41 and a two-hundred day moving average price of $5.78.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PAYO. Osaic Holdings Inc. boosted its stake in shares of Payoneer Global by 246.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock valued at $33,000 after purchasing an additional 3,298 shares in the last quarter. CWM LLC lifted its stake in shares of Payoneer Global by 178.6% in the 4th quarter. CWM LLC now owns 9,384 shares of the company’s stock valued at $53,000 after acquiring an additional 6,016 shares during the last quarter. Vident Advisory LLC bought a new position in Payoneer Global during the 4th quarter worth approximately $58,000. Empowered Funds LLC purchased a new position in Payoneer Global in the 4th quarter worth approximately $63,000. Finally, Quarry LP lifted its position in Payoneer Global by 9,273.2% in the third quarter. Quarry LP now owns 10,498 shares of the company’s stock valued at $64,000 after purchasing an additional 10,386 shares during the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.

About Payoneer Global

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.