Federated Hermes Inc. Has $348,000 Position in Payoneer Global Inc. (NASDAQ:PAYO)

Key Points

• Federated Hermes Inc. increased its stake in Payoneer Global Inc. by 706.1% in Q1, now holding 47,626 shares valued at $348,000.
• A number of hedge funds, including Susquehanna Capital Management and Price T Rowe Associates, significantly boosted their positions in Payoneer Global, indicating strong institutional interest in the stock.
• Wall Street analysts have a positive outlook for Payoneer Global, with the stock receiving several buy ratings and an average price target of $10.06.

Federated Hermes Inc. grew its stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 706.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,626 shares of the company's stock after purchasing an additional 41,718 shares during the period. Federated Hermes Inc.'s holdings in Payoneer Global were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Susquehanna Capital Management LLC boosted its position in Payoneer Global by 290.3% during the 4th quarter. Susquehanna Capital Management LLC now owns 25,268,954 shares of the company's stock worth $253,700,000 after buying an additional 18,794,047 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Payoneer Global by 5.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,709,989 shares of the company's stock worth $87,450,000 after buying an additional 440,231 shares during the period. Geode Capital Management LLC boosted its position in Payoneer Global by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,777,377 shares of the company's stock worth $68,059,000 after buying an additional 156,252 shares during the period. Millennium Management LLC boosted its position in Payoneer Global by 0.3% during the 4th quarter. Millennium Management LLC now owns 6,523,595 shares of the company's stock worth $65,497,000 after buying an additional 21,149 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Payoneer Global by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,982,879 shares of the company's stock worth $60,067,000 after buying an additional 377,008 shares during the period. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods upgraded shares of Payoneer Global from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $7.00 to $9.00 in a research report on Tuesday, May 13th. 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 research report on Wednesday. Citigroup restated a "buy" rating and issued a $10.00 price target (down previously from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Payoneer Global in a research report on Thursday, July 17th. They issued a "buy" rating and a $8.00 price target on the stock. Finally, 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 research report on Tuesday, May 27th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $10.06.

Payoneer Global Stock Performance

Shares of NASDAQ PAYO opened at $6.64 on Friday. The company has a market capitalization of $2.40 billion, a P/E ratio of 25.54 and a beta of 0.97. Payoneer Global Inc. has a 52-week low of $5.71 and a 52-week high of $11.29. The company's 50 day moving average price is $6.76 and its 200-day moving average price is $7.54.

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

Insider Buying and Selling at Payoneer Global

In other news, Director Susanna Morgan sold 16,180 shares of Payoneer Global stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $6.77, for a total value of $109,538.60. Following the completion of the sale, the director owned 80,902 shares in the company, valued at $547,706.54. The trade was a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.58% of the stock is owned by corporate insiders.

About Payoneer Global

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.

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