Hsbc Holdings PLC Has $228,000 Holdings in Payoneer Global Inc. $PAYO

Key Points

• Hsbc Holdings PLC has reduced its stake in Payoneer Global Inc. by 67.9%, selling 66,473 shares and currently holding 31,440 shares worth approximately $228,000.
• Payoneer Global's stock recently opened at $6.65 and currently has a market capitalization of $2.40 billion, with a 52-week range between $5.71 and $11.29.
• Following the latest earnings report, several analysts have updated their views, with Needham & Company raising its price target from $8.00 to $10.00 and maintaining a "buy" rating.

Hsbc Holdings PLC cut its holdings in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 67.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 31,440 shares of the company's stock after selling 66,473 shares during the quarter. Hsbc Holdings PLC's holdings in Payoneer Global were worth $228,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PAYO. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Payoneer Global by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,016 shares of the company's stock worth $132,000 after purchasing an additional 1,808 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in shares of Payoneer Global during the 1st quarter worth approximately $25,000. Corton Capital Inc. raised its stake in shares of Payoneer Global by 27.8% during the 1st quarter. Corton Capital Inc. now owns 15,971 shares of the company's stock worth $117,000 after purchasing an additional 3,475 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Payoneer Global by 420.6% during the 1st quarter. Versant Capital Management Inc now owns 5,034 shares of the company's stock worth $37,000 after purchasing an additional 4,067 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Payoneer Global by 11.5% during the 1st quarter. Mackenzie Financial Corp now owns 52,294 shares of the company's stock worth $382,000 after purchasing an additional 5,379 shares in the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Payoneer Global Trading Up 2.6%

PAYO stock traded up $0.17 during trading hours on Thursday, hitting $6.64. 2,464,003 shares of the stock were exchanged, compared to its average volume of 2,713,152. The firm has a market capitalization of $2.39 billion, a P/E ratio of 25.54, a P/E/G ratio of 8.51 and a beta of 0.98. The company has a 50-day simple moving average of $6.75 and a two-hundred day simple moving average of $6.94. Payoneer Global Inc. has a 12 month low of $5.71 and a 12 month high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted 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 firm had revenue of $260.61 million for the quarter, compared to the consensus estimate of $253.17 million. Payoneer Global had a return on equity of 13.42% and a net margin of 9.81%.The firm's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. On average, equities research analysts predict that Payoneer Global Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PAYO. Citigroup reiterated a "buy" rating and set a $10.00 price objective (down previously from $13.00) on shares of Payoneer Global in a research note on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft began coverage on Payoneer Global in a report on Thursday, July 17th. They set a "buy" rating and a $8.00 price target for the company. Wall Street Zen downgraded Payoneer Global from a "hold" rating to a "sell" rating in a report on Tuesday. Jefferies Financial Group raised their price target on Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a report on Tuesday, May 27th. Finally, Needham & Company LLC raised their price target on Payoneer Global from $8.00 to $10.00 and gave the company 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $10.06.

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.