Payoneer Global Inc. $PAYO Shares Acquired by Driehaus Capital Management LLC

Key Points

• Driehaus Capital Management LLC increased its holdings in Payoneer Global Inc. by 21.6%, acquiring additional shares worth approximately $17.09 million during the first quarter.
• Institutional investors own 82.22% of Payoneer Global's stock, with Vanguard Group owning the largest share at 33.88 million shares valued at approximately $247.68 million.
• Analysts maintain a consensus rating of "Moderate Buy" for Payoneer Global, with an average price target of $10.06 after several upgrades and downgrades in recent months.

Driehaus Capital Management LLC lifted its holdings in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 21.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,337,504 shares of the company's stock after acquiring an additional 414,695 shares during the period. Driehaus Capital Management LLC owned approximately 0.65% of Payoneer Global worth $17,087,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Payoneer Global by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,016 shares of the company's stock worth $132,000 after acquiring an additional 1,808 shares in the last quarter. Quarry LP bought a new stake in shares of Payoneer Global during the fourth quarter worth about $29,000. Farther Finance Advisors LLC bought a new stake in shares of Payoneer Global during the first quarter worth about $25,000. Landscape Capital Management L.L.C. increased its position in shares of Payoneer Global by 28.0% during the first quarter. Landscape Capital Management L.L.C. now owns 15,388 shares of the company's stock worth $112,000 after acquiring an additional 3,369 shares in the last quarter. Finally, Corton Capital Inc. increased its position in shares of Payoneer Global by 27.8% during the first quarter. Corton Capital Inc. now owns 15,971 shares of the company's stock worth $117,000 after acquiring an additional 3,475 shares in the last quarter. 82.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PAYO shares. Keefe, Bruyette & Woods upgraded shares of Payoneer Global from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $7.00 to $9.00 in a report on Tuesday, May 13th. Jefferies Financial Group boosted their price target on shares of Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Citigroup restated a "buy" rating and set a $10.00 price target (down from $13.00) on shares of Payoneer Global in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Payoneer Global in a report on Thursday, July 17th. They set a "buy" rating and a $8.00 price target on the stock. Finally, Needham & Company LLC boosted their price target on shares of Payoneer Global from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Payoneer Global currently has an average rating of "Moderate Buy" and an average target price of $10.06.

Payoneer Global Stock Down 0.9%

Shares of PAYO traded down $0.06 during mid-day trading on Thursday, hitting $6.70. The stock had a trading volume of 2,505,830 shares, compared to its average volume of 2,981,817. The company has a market cap of $2.41 billion, a PE ratio of 25.77, a PEG ratio of 8.90 and a beta of 0.98. The company's fifty day simple moving average is $6.77 and its two-hundred day simple moving average is $7.07. Payoneer Global Inc. has a fifty-two week low of $5.71 and a fifty-two week high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Payoneer Global had a return on equity of 13.42% and a net margin of 9.81%.The firm had revenue of $260.61 million during the quarter, compared to analyst estimates of $253.17 million. During the same quarter in the previous year, the business posted $0.09 EPS. Payoneer Global's revenue was up 8.8% compared to the same quarter last year. Equities analysts expect that Payoneer Global Inc. will post 0.34 earnings per share 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.