Payoneer Global (NASDAQ:PAYO) Trading Up 18.1% – Here’s What Happened

Payoneer Global Inc. (NASDAQ:PAYO)’s stock price was up 18.1% during mid-day trading on Tuesday . The company traded as high as $5.33 and last traded at $6.07. Approximately 511,826 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 4,144,589 shares. The stock had previously closed at $5.14.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PAYO shares. Needham & Company LLC reduced their price objective on Payoneer Global from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Wall Street Zen upgraded Payoneer Global from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Benchmark reduced their price objective on Payoneer Global from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Bank of America started coverage on Payoneer Global in a research note on Wednesday, March 25th. They issued a “buy” rating and a $6.00 price objective for the company. Finally, Weiss Ratings downgraded Payoneer Global from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.17.

Payoneer Global Stock Performance

The company has a market cap of $2.19 billion, a P/E ratio of 32.67, a P/E/G ratio of 0.54 and a beta of 1.02. The firm has a 50 day moving average price of $4.99 and a two-hundred day moving average price of $5.28.

Payoneer Global (NASDAQ:PAYO) last issued its earnings results on Thursday, May 7th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. Payoneer Global had a return on equity of 11.10% and a net margin of 6.76%.The business had revenue of $261.60 million during the quarter, compared to the consensus estimate of $255.12 million. During the same quarter last year, the company earned $0.05 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts predict that Payoneer Global Inc. will post 0.27 EPS for the current fiscal year.

Institutional Trading of Payoneer Global

Institutional investors and hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its stake in Payoneer Global by 246.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock worth $33,000 after purchasing an additional 3,298 shares in the last quarter. Leonteq Securities AG lifted its stake in Payoneer Global by 72.0% in the 1st quarter. Leonteq Securities AG now owns 6,496 shares of the company’s stock worth $31,000 after purchasing an additional 2,720 shares in the last quarter. CWM LLC lifted its stake in Payoneer Global by 178.6% in the 4th quarter. CWM LLC now owns 9,384 shares of the company’s stock worth $53,000 after purchasing an additional 6,016 shares in the last quarter. Resonant Capital Advisors LLC purchased a new stake in Payoneer Global in the 1st quarter worth approximately $49,000. Finally, Vident Advisory LLC purchased a new stake in Payoneer Global in the 4th quarter worth approximately $58,000. 82.22% of the stock is currently owned by hedge funds and other institutional investors.

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.