Payoneer Global (NASDAQ:PAYO) Issues Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Payoneer Global (NASDAQ:PAYO) announced its quarterly earnings results on Thursday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07), FiscalAI reports. The business had revenue of $274.26 million during the quarter, compared to analyst estimates of $270.98 million. Payoneer Global had a net margin of 4.65% and a return on equity of 9.97%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share.

Payoneer Global Stock Down 0.1%

Shares of NASDAQ PAYO traded down $0.01 during mid-day trading on Friday, hitting $7.10. 3,933,240 shares of the company were exchanged, compared to its average volume of 4,280,772. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 50.72, a price-to-earnings-growth ratio of 0.80 and a beta of 0.96. Payoneer Global has a 1-year low of $4.08 and a 1-year high of $7.18. The stock has a 50 day simple moving average of $6.83 and a 200-day simple moving average of $5.72.

Insider Buying and Selling

In related news, CFO Beatrice Ordonez sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer owned 2,887,266 shares in the company, valued at $20,239,734.66. This trade represents a 0.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.06% of the stock is currently owned by insiders.

Institutional Trading of Payoneer Global

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp lifted its stake in shares of 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 purchasing an additional 1,977 shares in the last quarter. Susquehanna International Group LLP increased 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 purchasing an additional 2,144 shares in the last quarter. LPL Financial LLC increased its position in Payoneer Global by 5.8% during the 4th quarter. LPL Financial LLC now owns 42,211 shares of the company’s stock worth $237,000 after purchasing an additional 2,304 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Payoneer Global by 1.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 191,478 shares of the company’s stock worth $1,312,000 after purchasing an additional 2,882 shares in the last quarter. Finally, Osaic Holdings Inc. raised its holdings in Payoneer Global by 246.5% in the second quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock valued at $33,000 after buying an additional 3,298 shares during the period. Institutional investors and hedge funds own 82.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PAYO shares. Needham & Company LLC cut shares of Payoneer Global from a “buy” rating to a “hold” rating in a report on Monday, June 15th. Wall Street Zen raised shares of Payoneer Global from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Citigroup lowered shares of Payoneer Global from a “buy” rating to a “neutral” rating and cut their price target for the stock from $10.00 to $7.40 in a research note on Tuesday, June 16th. Benchmark cut shares of Payoneer Global from a “buy” rating to a “hold” rating in a research report on Thursday, June 18th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Payoneer Global from a “buy” rating to a “hold” rating in a research note on Friday. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.40.

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.