Payoneer Global (NASDAQ:PAYO) Sees Unusually-High Trading Volume – Here’s Why

Shares of Payoneer Global Inc. (NASDAQ:PAYO) saw an uptick in trading volume on Monday . 24,956,464 shares were traded during mid-day trading, an increase of 411% from the previous session’s volume of 4,883,419 shares.The stock last traded at $7.0450 and had previously closed at $6.75.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PAYO. Northland Securities set a $7.40 target price on shares of Payoneer Global in a research note on Monday. Keefe, Bruyette & Woods reduced their price objective on shares of 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 reaffirmed a “buy” rating and set a $9.00 price objective on shares of Payoneer Global in a research report on Wednesday, June 10th. Wall Street Zen raised shares of Payoneer Global from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Needham & Company LLC cut shares of Payoneer Global from a “buy” rating to a “hold” rating in a research report on Monday. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Payoneer Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.49.

Payoneer Global Price Performance

The stock’s 50-day moving average price is $5.13 and its 200-day moving average price is $5.32. The company has a market cap of $2.35 billion, a P/E ratio of 35.13, a PEG ratio of 0.72 and a beta of 1.02.

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

Institutional Investors Weigh In On Payoneer Global

A number of institutional investors have recently modified their holdings of PAYO. GSA Capital Partners LLP raised its stake in Payoneer Global by 195.9% during the third 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 in the last quarter. American Century Companies Inc. raised its stake in Payoneer Global by 10.7% during the third 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 in the last quarter. JPMorgan Chase & Co. raised its stake in Payoneer Global by 128.5% during the third 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 in the last quarter. Public Sector Pension Investment Board raised its stake in Payoneer Global by 28.2% during the third 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 in the last quarter. Finally, WINTON GROUP Ltd acquired a new position in Payoneer Global during the third quarter worth about $3,349,000. 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.