Payoneer Global (NASDAQ:PAYO) Rating Lowered to “Hold” at Keefe, Bruyette & Woods

Payoneer Global (NASDAQ:PAYO) was downgraded by Keefe, Bruyette & Woods from a “moderate buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC cut shares of Payoneer Global from a “buy” rating to a “hold” rating in a research note on Monday. Benchmark reiterated a “buy” rating and set a $9.00 target price on shares of Payoneer Global in a research note on Wednesday, June 10th. Northland Securities set a $7.40 target price on shares of Payoneer Global in a research note on Monday. Bank of America started coverage on shares of Payoneer Global in a research note on Wednesday, March 25th. They set a “buy” rating and a $6.00 target price for the company. Finally, Wall Street Zen upgraded shares of Payoneer Global from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $7.40.

Payoneer Global Trading Down 0.1%

Shares of Payoneer Global stock opened at $7.02 on Monday. The firm has a fifty day simple moving average of $5.22 and a 200-day simple moving average of $5.34. Payoneer Global has a 1-year low of $4.08 and a 1-year high of $7.66. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 35.10, a PEG ratio of 0.75 and a beta of 1.02.

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

Insider Activity

In other news, CFO Beatrice Ordonez sold 25,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $7.01, for a total value of $175,250.00. Following the completion of the transaction, the chief financial officer owned 2,887,266 shares in the company, valued at approximately $20,239,734.66. This represents a 0.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.06% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

A number of hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC raised its stake in shares of Payoneer Global by 2.9% in the 1st quarter. Parallel Advisors LLC now owns 258,921 shares of the company’s stock valued at $1,251,000 after buying an additional 7,415 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Payoneer Global by 17.9% in the 1st quarter. Bank of America Corp DE now owns 3,795,863 shares of the company’s stock valued at $18,334,000 after buying an additional 576,559 shares in the last quarter. Amundi raised its stake in shares of Payoneer Global by 123.9% in the 1st quarter. Amundi now owns 75,956 shares of the company’s stock valued at $367,000 after buying an additional 42,028 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Payoneer Global by 33.2% in the 1st quarter. California State Teachers Retirement System now owns 362,574 shares of the company’s stock valued at $1,751,000 after buying an additional 90,346 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Payoneer Global by 7.3% in the 1st quarter. Royal Bank of Canada now owns 96,269 shares of the company’s stock valued at $465,000 after buying an additional 6,532 shares in the last quarter. Institutional investors and hedge funds own 82.22% of the company’s stock.

Key Stories Impacting Payoneer Global

Here are the key news stories impacting Payoneer Global this week:

• Positive Sentiment: Nuvei announced a definitive agreement to acquire Payoneer Global Inc. for $7.40 per share in cash, creating a larger global payments platform with expected annual revenue of about $3 billion at closing. Nuvei to Acquire Payoneer for $2.75 Billion, Creating a Leading Global Platform for Local and Cross-Border Commerce
• Positive Sentiment: Multiple reports highlighted that Payoneer’s shares jumped on the acquisition news, reflecting investor enthusiasm for the deal premium and the possibility of a near-term exit at the agreed cash price. Stock Market Today, June 15: Payoneer Global Jumps After Nuvei Agrees to Acquire Company for $2.75 Billion
• Neutral Sentiment: Payoneer’s CFO, Beatrice Ordonez, sold 25,000 shares under a pre-arranged 10b5-1 trading plan. The filing is routine and does not necessarily signal a change in fundamentals, but it is a headline investors may notice. Payoneer CFO Beatrice Ordonez Insider Trade
• Negative Sentiment: Several law firms announced investigations into whether Payoneer shareholders are getting a fair price in the transaction, which could add legal noise and create some uncertainty around the deal process. Shareholder Alert: Ademi LLP Investigates Whether Payoneer Global Inc. is Obtaining a Fair Price for Public Shareholders

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.