Short Interest in Payoneer Global Inc. (NASDAQ:PAYO) Declines By 24.2%

Payoneer Global Inc. (NASDAQ:PAYO) was the recipient of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totaling 8,170,000 shares, adecreaseof24.2% from the July 31st total of 10,780,000 shares. Approximately3.0% of the shares of the company are short sold. Based on an average trading volume of 2,940,000 shares, the days-to-cover ratio is presently 2.8 days. Based on an average trading volume of 2,940,000 shares, the days-to-cover ratio is presently 2.8 days. Approximately3.0% of the shares of the company are short sold.

Payoneer Global Stock Down 0.7%

PAYO opened at $6.65 on Monday. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 8.75 and a beta of 0.98. Payoneer Global has a 52-week low of $5.71 and a 52-week high of $11.29. The firm’s fifty day simple moving average is $6.77 and its two-hundred day simple moving average is $6.99.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $260.61 million for the quarter, compared to analysts’ expectations of $253.17 million. Payoneer Global had a net margin of 9.81% and a return on equity of 13.42%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share. On average, research analysts forecast that Payoneer Global will post 0.34 EPS for the current year.

Hedge Funds Weigh In On Payoneer Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Payoneer Global by 12.1% during the first quarter. Vanguard Group Inc. now owns 33,881,608 shares of the company’s stock valued at $247,675,000 after purchasing an additional 3,656,056 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Payoneer Global by 15.1% in the first quarter. American Century Companies Inc. now owns 9,403,250 shares of the company’s stock worth $68,738,000 after buying an additional 1,236,598 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Payoneer Global by 3.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,970,295 shares of the company’s stock worth $65,574,000 after buying an additional 260,306 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Payoneer Global by 15.5% in the first quarter. Millennium Management LLC now owns 7,537,691 shares of the company’s stock worth $55,101,000 after buying an additional 1,014,096 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Payoneer Global by 3.3% in the second quarter. Geode Capital Management LLC now owns 7,058,130 shares of the company’s stock worth $48,353,000 after buying an additional 226,215 shares in the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PAYO has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Payoneer Global from a “sell” rating to a “hold” rating in a report on Monday, September 1st. Jefferies Financial Group increased their price target on shares of Payoneer Global from $8.00 to $8.50 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Payoneer Global in a report on Thursday, July 17th. They set a “buy” rating and a $8.00 price target on the stock. Citigroup reissued a “buy” rating and set a $10.00 price target (down from $13.00) on shares of Payoneer Global in a report on Thursday, May 22nd. Finally, Needham & Company LLC increased their price target on shares of Payoneer Global from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Payoneer Global has a consensus rating of “Moderate Buy” and an average target price of $10.06.

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.