Payoneer Global (NASDAQ:PAYO) Sets New 52-Week High – What’s Next?

Payoneer Global Inc. (NASDAQ:PAYO)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $7.18 and last traded at $7.18, with a volume of 716460 shares. The stock had previously closed at $7.12.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Weiss Ratings upgraded Payoneer Global from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Northland Securities set a $7.40 target price on shares of Payoneer Global in a research report on Monday, June 15th. Deutsche Bank Aktiengesellschaft cut shares of Payoneer Global from a “buy” rating to a “hold” rating in a report on Friday, August 7th. William Blair lowered Payoneer Global from an “outperform” rating to a “hold” rating in a report on Monday, June 15th. Finally, Benchmark downgraded Payoneer Global from a “buy” rating to a “hold” rating in a report on Thursday, June 18th. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.40.

Payoneer Global Stock Performance

The company has a 50 day moving average of $7.11 and a 200 day moving average of $5.87. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 51.29, a P/E/G ratio of 1.49 and a beta of 0.94.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.07). Payoneer Global had a net margin of 4.65% and a return on equity of 9.97%. The company had revenue of $274.26 million during the quarter, compared to analyst estimates of $270.98 million. During the same period in the prior year, the business posted $0.05 EPS. Payoneer Global’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts predict that Payoneer Global Inc. will post 0.2 EPS for the current fiscal year.

Insider Activity

In other Payoneer Global news, CFO Beatrice Ordonez sold 25,000 shares of the 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 sale, the chief financial officer directly owned 2,887,266 shares in the company, valued at $20,239,734.66. This represents a 0.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.06% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

A number of institutional investors and hedge funds have recently modified their holdings of PAYO. Van ECK Associates Corp grew its position in Payoneer Global by 2.4% in the 4th 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 raised its position in Payoneer Global by 9.5% during the 3rd quarter. Susquehanna International Group LLP now owns 24,637 shares of the company’s stock worth $149,000 after buying an additional 2,144 shares during the last quarter. ProShare Advisors LLC raised its position in Payoneer Global by 4.1% during the 4th quarter. ProShare Advisors LLC now owns 54,909 shares of the company’s stock worth $309,000 after buying an additional 2,145 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Payoneer Global by 5.8% in the 4th quarter. LPL Financial LLC now owns 42,211 shares of the company’s stock worth $237,000 after acquiring an additional 2,304 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Payoneer Global by 8.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 31,677 shares of the company’s stock valued at $178,000 after acquiring an additional 2,368 shares in the last quarter. Institutional investors and hedge funds own 82.22% of the company’s stock.

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.