Castleark Management LLC Invests $6.07 Million in Payoneer Global Inc. (NASDAQ:PAYO)

Castleark Management LLC acquired a new position in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 604,260 shares of the company's stock, valued at approximately $6,067,000. Castleark Management LLC owned about 0.17% of Payoneer Global as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Quarry LP purchased a new stake in Payoneer Global in the 4th quarter worth approximately $29,000. Smartleaf Asset Management LLC boosted its stake in Payoneer Global by 405.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company's stock valued at $38,000 after purchasing an additional 3,064 shares during the period. Fifth Third Bancorp grew its holdings in Payoneer Global by 29.3% during the fourth quarter. Fifth Third Bancorp now owns 4,488 shares of the company's stock worth $45,000 after acquiring an additional 1,016 shares during the period. Blue Trust Inc. grew its holdings in shares of Payoneer Global by 21.2% in the 4th quarter. Blue Trust Inc. now owns 5,380 shares of the company's stock worth $54,000 after acquiring an additional 940 shares during the last quarter. Finally, CreativeOne Wealth LLC acquired a new position in shares of Payoneer Global in the 4th quarter valued at about $103,000. Hedge funds and other institutional investors own 82.22% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Keefe, Bruyette & Woods upgraded Payoneer Global from a "market perform" rating to an "outperform" rating and increased their price target for the company from $7.00 to $9.00 in a report on Tuesday, May 13th. The Goldman Sachs Group cut their price target on Payoneer Global from $11.00 to $9.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Needham & Company LLC dropped 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 reiterated a "buy" rating and set a $10.00 price target (down previously from $13.00) on shares of Payoneer Global in a research note on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Payoneer Global in a report on Monday, February 3rd. They issued a "buy" rating and a $13.00 target price for the company. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Payoneer Global presently has an average rating of "Buy" and an average price target of $10.44.

Payoneer Global Stock Up 1.7%

NASDAQ PAYO traded up $0.12 on Tuesday, hitting $6.93. The company's stock had a trading volume of 643,104 shares, compared to its average volume of 3,181,652. The company's 50-day moving average is $6.87 and its 200 day moving average is $8.89. Payoneer Global Inc. has a 1-year low of $5.03 and a 1-year high of $11.29. The firm has a market cap of $2.50 billion, a PE ratio of 19.79, a PEG ratio of 2.88 and a beta of 1.03.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.05 EPS 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 previous year, the firm earned $0.08 earnings per share. The business's quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts expect that Payoneer Global Inc. will post 0.34 EPS for the current year.

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.