Wall Street Zen Downgrades Payoneer Global (NASDAQ:PAYO) to Sell

Payoneer Global (NASDAQ:PAYO) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other equities analysts also recently issued reports on PAYO. Needham & Company LLC reduced their price objective on Payoneer Global from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Bank of America started coverage on Payoneer Global in a research note on Wednesday, March 25th. They set a “buy” rating and a $6.00 target price on the stock. Keefe, Bruyette & Woods reduced their price target on Payoneer Global from $7.50 to $7.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Benchmark decreased their price target on Payoneer Global from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Payoneer Global in a report on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Payoneer Global has an average rating of “Moderate Buy” and an average target price of $7.75.

Payoneer Global Price Performance

PAYO stock opened at $4.78 on Friday. The stock has a market cap of $1.65 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 0.60 and a beta of 1.10. The firm’s 50-day simple moving average is $5.27 and its 200 day simple moving average is $5.64. Payoneer Global has a fifty-two week low of $4.08 and a fifty-two week high of $7.66.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PAYO. Hsbc Holdings PLC lifted its position in Payoneer Global by 372.8% in the fourth quarter. Hsbc Holdings PLC now owns 603,407 shares of the company’s stock worth $3,400,000 after purchasing an additional 475,776 shares during the period. Alpine Global Management LLC acquired a new position in shares of Payoneer Global during the 4th quarter valued at $177,000. Virtu Financial LLC acquired a new position in shares of Payoneer Global during the 4th quarter valued at $129,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Payoneer Global in the 4th quarter worth $69,000. Finally, Vident Advisory LLC bought a new stake in shares of Payoneer Global in the 4th quarter worth $58,000. Institutional investors and hedge funds 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.