Driehaus Capital Management LLC Invests $19.31 Million in Payoneer Global Inc. (NASDAQ:PAYO)

Driehaus Capital Management LLC acquired a new stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,922,809 shares of the company's stock, valued at approximately $19,305,000. Driehaus Capital Management LLC owned approximately 0.54% of Payoneer Global at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PAYO. Cubist Systematic Strategies LLC grew its holdings in Payoneer Global by 570.4% during the fourth quarter. Cubist Systematic Strategies LLC now owns 984,213 shares of the company's stock worth $9,881,000 after purchasing an additional 837,403 shares during the period. Bridgefront Capital LLC bought a new stake in Payoneer Global in the 4th quarter valued at about $264,000. Bayesian Capital Management LP bought a new stake in shares of Payoneer Global during the 4th quarter worth $497,000. Bank of America Corp DE grew its position in Payoneer Global by 34.0% in the fourth quarter. Bank of America Corp DE now owns 2,508,530 shares of the company's stock valued at $25,186,000 after acquiring an additional 636,473 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Payoneer Global in the 4th quarter valued at approximately $10,198,000. 82.22% of the stock is owned by institutional investors and hedge funds.

Payoneer Global Price Performance

PAYO stock traded down $0.16 during midday trading on Wednesday, hitting $7.30. The stock had a trading volume of 1,221,237 shares, compared to its average volume of 3,171,236. The business has a 50-day moving average of $6.91 and a two-hundred day moving average of $9.04. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 2.88 and a beta of 1.03. Payoneer Global Inc. has a 52-week low of $5.03 and a 52-week high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The firm had revenue of $246.62 million during the quarter, compared to the consensus estimate of $244.52 million. During the same period in the prior year, the company posted $0.08 EPS. The firm's revenue was up 8.1% compared to the same quarter last year. Research analysts predict that Payoneer Global Inc. will post 0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PAYO has been the subject of several research reports. Keefe, Bruyette & Woods upgraded Payoneer Global from a "market perform" rating to an "outperform" rating and increased their target price for the company from $7.00 to $9.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on Payoneer Global in a report on Monday, February 3rd. They set a "buy" rating and a $13.00 price objective for the company. Needham & Company LLC cut their price objective on shares of Payoneer Global from $14.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Citigroup raised their price target on shares of Payoneer Global from $14.50 to $16.50 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group reduced their price objective on shares of Payoneer Global from $11.00 to $9.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Payoneer Global has an average rating of "Buy" and a consensus price target of $11.64.

Payoneer Global Profile

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.