Payoneer Global Inc. (NASDAQ:PAYO) Stock Has Average Price Target of $7.40

Key Points

• Analyst sentiment is largely neutral: Payoneer Global has a consensus “Hold” rating from nine brokerages, with eight holds and one buy. The average 12-month price target is $7.40, slightly above the reported $7.16 share price.
• Recent quarterly results were mixed: Revenue rose 5.2% year over year to $274.26 million, exceeding estimates, but the company posted a loss of $0.01 per share versus the expected $0.06 profit.
• Institutional ownership is substantial: Hedge funds and other institutions own 82.22% of Payoneer’s stock, with BlackRock and Pentwater Capital among investors that recently established significant positions.

Shares of Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report) have earned a consensus rating of "Hold" from the nine brokerages that are covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $7.40.

Several brokerages have weighed in on PAYO. Weiss Ratings raised Payoneer Global from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft lowered shares of Payoneer Global from a "buy" rating to a "hold" rating in a research note on Friday, August 7th.

Payoneer Global Trading Up 0.4%

Shares of NASDAQ:PAYO opened at $7.16 on Thursday. Payoneer Global has a 12-month low of $4.08 and a 12-month high of $7.19. The stock's 50-day moving average price is $7.13 and its 200-day moving average price is $6.43. The stock has a market capitalization of $2.43 billion, a P/E ratio of 51.15, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.07). Payoneer Global had a net margin of 4.65% and a return on equity of 9.97%. The firm had revenue of $274.26 million for the quarter, compared to the consensus estimate of $270.98 million. During the same quarter in the prior year, the business posted $0.05 earnings per share. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts predict that Payoneer Global will post 0.16 EPS for the current year.

Hedge Funds Weigh In On Payoneer Global

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Payoneer Global in the 2nd quarter valued at $278,076,000. Pentwater Capital Management LP bought a new position in Payoneer Global during the 2nd quarter worth approximately $70,405,000. Dimensional Fund Advisors LP grew its holdings in Payoneer Global by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 7,544,420 shares of the company's stock valued at $36,438,000 after purchasing an additional 263,030 shares during the period. Bank of America Corp DE acquired a new position in Payoneer Global during the second quarter valued at approximately $26,398,000. Finally, Bank of New York Mellon Corp bought a new stake in Payoneer Global in the second quarter valued at approximately $10,549,000. Institutional investors and hedge funds own 82.22% of the company's stock.

Payoneer Global Company Profile

Payoneer Global Inc NASDAQ: PAYO operates a global financial technology platform that helps businesses, online marketplaces, freelancers and other professionals send, receive and manage payments across borders. Its services are designed to support companies that operate internationally, including small and medium-sized businesses and digital commerce participants.

The company provides multi-currency receiving accounts, cross-border payouts, supplier and contractor payments, currency conversion and other business payment tools.

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