Payoneer Global (NASDAQ:PAYO) Sets New 52-Week High – What’s Next?

Payoneer Global Inc. (NASDAQ:PAYO) hit a new 52-week high on Thursday . The stock traded as high as $7.18 and last traded at $7.18, with a volume of 716460 shares changing hands. The stock had previously closed at $7.12.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PAYO shares. Keefe, Bruyette & Woods cut Payoneer Global from a “moderate buy” rating to a “hold” rating in a report on Monday, June 15th. Northland Securities set a $7.40 target price on Payoneer Global in a research note on Monday, June 15th. William Blair lowered shares of Payoneer Global from an “outperform” rating to a “hold” rating in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft lowered Payoneer Global from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, Citigroup downgraded shares of Payoneer Global from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $10.00 to $7.40 in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Payoneer Global currently has an average rating of “Hold” and a consensus price target of $7.40.

Payoneer Global Stock Up 0.8%

The company’s 50-day moving average is $7.11 and its two-hundred day moving average is $5.87. The company has a market capitalization of $2.43 billion, a P/E ratio of 51.29, a PEG ratio of 1.49 and a beta of 0.94.

Payoneer Global (NASDAQ:PAYO) last issued its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.07). The firm had revenue of $274.26 million during the quarter, compared to analysts’ expectations of $270.98 million. Payoneer Global had a return on equity of 9.97% and a net margin of 4.65%.The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.05 EPS. On average, sell-side analysts predict that Payoneer Global Inc. will post 0.2 EPS for the current year.

Insider Transactions at Payoneer Global

In other Payoneer Global news, CFO Beatrice Ordonez sold 25,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $7.01, for a total transaction of $175,250.00. Following the sale, the chief financial officer directly owned 2,887,266 shares in the company, valued at approximately $20,239,734.66. This trade represents a 0.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.06% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Payoneer Global in the 2nd quarter worth $278,076,000. Pentwater Capital Management LP purchased a new position in Payoneer Global during the 2nd quarter valued at about $70,405,000. Bank of America Corp DE purchased a new stake in shares of Payoneer Global in the 2nd quarter worth approximately $26,398,000. Invesco Ltd. boosted its stake in shares of Payoneer Global by 137.3% during the second quarter. Invesco Ltd. now owns 5,562,623 shares of the company’s stock valued at $38,104,000 after purchasing an additional 3,218,917 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Payoneer Global by 480.9% during the second quarter. California State Teachers Retirement System now owns 2,106,039 shares of the company’s stock valued at $14,995,000 after purchasing an additional 1,743,465 shares in the last quarter. Institutional investors own 82.22% of the company’s stock.

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.