Payoneer Global (NASDAQ:PAYO) Issues Earnings Results, Misses Expectations By $0.07 EPS

Payoneer Global (NASDAQ:PAYO) posted its quarterly earnings results on Thursday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.07), FiscalAI reports. The business had revenue of $274.26 million during the quarter, compared to analyst estimates of $270.98 million. Payoneer Global had a return on equity of 9.97% and a net margin of 4.65%.The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 EPS.

Payoneer Global Stock Down 0.1%

Shares of Payoneer Global stock traded down $0.01 on Friday, hitting $7.10. 3,933,240 shares of the company traded hands, compared to its average volume of 4,280,772. Payoneer Global has a 12-month low of $4.08 and a 12-month high of $7.18. The company has a market cap of $2.38 billion, a PE ratio of 50.72, a PEG ratio of 0.80 and a beta of 0.96. The company has a 50-day moving average price of $6.83 and a 200 day moving average price of $5.72.

Analyst Ratings Changes

PAYO has been the topic of a number of recent research reports. William Blair cut Payoneer Global from an “outperform” rating to a “hold” rating in a report on Monday, June 15th. Citigroup downgraded shares of Payoneer Global from a “buy” rating to a “neutral” rating and cut their target price for the company from $10.00 to $7.40 in a research note on Tuesday, June 16th. Benchmark cut Payoneer Global from a “buy” rating to a “hold” rating in a research report on Thursday, June 18th. Keefe, Bruyette & Woods lowered Payoneer Global from a “moderate buy” rating to a “hold” rating in a research report on Monday, June 15th. Finally, Wall Street Zen upgraded Payoneer Global from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.40.

Insider Transactions at Payoneer Global

In related news, CFO Beatrice Ordonez sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $7.01, for a total transaction of $175,250.00. Following the transaction, the chief financial officer owned 2,887,266 shares of the company’s stock, valued at approximately $20,239,734.66. This trade represents a 0.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.06% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PAYO. Van ECK Associates Corp boosted its position in shares of Payoneer Global by 2.4% during the fourth quarter. Van ECK Associates Corp now owns 84,678 shares of the company’s stock valued at $476,000 after buying an additional 1,977 shares during the last quarter. Susquehanna International Group LLP grew its stake in Payoneer Global by 9.5% in the 3rd quarter. Susquehanna International Group LLP now owns 24,637 shares of the company’s stock valued at $149,000 after purchasing an additional 2,144 shares during the period. LPL Financial LLC increased its position in shares of Payoneer Global by 5.8% during the 4th quarter. LPL Financial LLC now owns 42,211 shares of the company’s stock valued at $237,000 after purchasing an additional 2,304 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Payoneer Global by 1.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 191,478 shares of the company’s stock worth $1,312,000 after purchasing an additional 2,882 shares during the period. Finally, Osaic Holdings Inc. raised its stake in shares of Payoneer Global by 246.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock worth $33,000 after purchasing an additional 3,298 shares during the period. 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.