Payoneer Global (NASDAQ:PAYO) Trading Up 18.1% – Here’s What Happened

Payoneer Global Inc. (NASDAQ:PAYO)’s stock price traded up 18.1% on Tuesday . The stock traded as high as $5.33 and last traded at $6.07. 511,826 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 4,144,589 shares. The stock had previously closed at $5.14.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Keefe, Bruyette & Woods lowered their price target on Payoneer Global from $7.50 to $7.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Bank of America assumed coverage on Payoneer Global in a report on Wednesday, March 25th. They issued a “buy” rating and a $6.00 price target on the stock. Weiss Ratings cut Payoneer Global from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Wall Street Zen raised Payoneer Global from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Needham & Company LLC lowered their price target on Payoneer Global from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.17.

Payoneer Global Trading Up 27.1%

The company has a market capitalization of $2.19 billion, a PE ratio of 32.67, a PEG ratio of 0.54 and a beta of 1.02. The stock has a fifty day moving average of $4.99 and a two-hundred day moving average of $5.28.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $261.60 million for the quarter, compared to analysts’ expectations of $255.12 million. Payoneer Global had a return on equity of 11.10% and a net margin of 6.76%.Payoneer Global’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $0.05 EPS. Equities analysts forecast that Payoneer Global Inc. will post 0.27 EPS for the current year.

Hedge Funds Weigh In On Payoneer Global

A number of large investors have recently modified their holdings of PAYO. GSA Capital Partners LLP grew its position in Payoneer Global by 195.9% during the 3rd quarter. GSA Capital Partners LLP now owns 395,610 shares of the company’s stock worth $2,393,000 after acquiring an additional 261,895 shares during the last quarter. American Century Companies Inc. grew its position in Payoneer Global by 10.7% during the 3rd quarter. American Century Companies Inc. now owns 7,326,825 shares of the company’s stock worth $44,327,000 after acquiring an additional 707,790 shares during the last quarter. JPMorgan Chase & Co. grew its position in Payoneer Global by 128.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 638,225 shares of the company’s stock worth $3,861,000 after acquiring an additional 358,922 shares during the last quarter. WINTON GROUP Ltd bought a new position in Payoneer Global during the 3rd quarter worth approximately $3,349,000. Finally, Public Sector Pension Investment Board grew its position in Payoneer Global by 28.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,138,375 shares of the company’s stock worth $6,887,000 after acquiring an additional 250,639 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.