Legion Partners Asset Management LLC Has $2.43 Million Stock Holdings in Payoneer Global Inc. (NASDAQ:PAYO)

Legion Partners Asset Management LLC reduced its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 89.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 241,636 shares of the company’s stock after selling 1,989,369 shares during the period. Payoneer Global makes up 1.6% of Legion Partners Asset Management LLC’s investment portfolio, making the stock its 6th biggest position. Legion Partners Asset Management LLC owned about 0.07% of Payoneer Global worth $2,426,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. bought a new stake in shares of Payoneer Global during the 4th quarter worth $1,233,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Payoneer Global during the 4th quarter worth $1,276,000. Entropy Technologies LP bought a new stake in shares of Payoneer Global during the 4th quarter worth $540,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Payoneer Global by 133.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 97,538 shares of the company’s stock worth $990,000 after acquiring an additional 55,766 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of Payoneer Global during the 4th quarter worth $1,809,000. 82.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PAYO has been the subject of a number of research analyst reports. Citigroup lifted their price objective on shares of Payoneer Global from $14.50 to $16.50 and gave the stock a “buy” rating in a report on Tuesday, March 4th. The Goldman Sachs Group decreased their target price on shares of Payoneer Global from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Needham & Company LLC decreased their target price on shares of Payoneer Global from $14.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods decreased their target price on shares of Payoneer Global from $8.00 to $7.00 and set a “market perform” rating on the stock in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Payoneer Global in a research report on Monday, February 3rd. They issued a “buy” rating and a $13.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $11.36.

Payoneer Global Trading Up 4.7%

PAYO stock opened at $6.63 on Monday. The firm’s 50-day moving average price is $6.94 and its two-hundred day moving average price is $9.06. Payoneer Global Inc. has a 12-month low of $5.03 and a 12-month high of $11.29. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 2.88 and a beta of 1.03.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The firm had revenue of $246.62 million during the quarter, compared to analysts’ expectations of $244.52 million. During the same quarter in the previous year, the firm posted $0.08 EPS. Payoneer Global’s revenue was up 8.1% compared to the same quarter last year. Equities analysts predict that Payoneer Global Inc. will post 0.34 EPS for the current year.

About Payoneer Global

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.