Insight Wealth Strategies LLC Acquires 259,648 Shares of Payoneer Global Inc. $PAYO

Key Points

• Insight Wealth Strategies LLC increased its holdings in Payoneer Global Inc. by 70.4%, acquiring an additional 259,648 shares in the second quarter, bringing its total to 628,247 shares valued at approximately $4.33 million.
• Vanguard Group and other institutional investors also increased their stakes, with Vanguard owning 33,881,608 shares and accounting for 82.22% of Payoneer Global's stock held by institutional investors.
• Payoneer Global reported a revenue of $260.61 million for the last quarter, with earnings per share (EPS) of $0.05, missing the consensus estimate, while the stock has an average rating of "Moderate Buy" with a target price of $10.06.

Insight Wealth Strategies LLC increased its holdings in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 70.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 628,247 shares of the company's stock after acquiring an additional 259,648 shares during the period. Insight Wealth Strategies LLC owned about 0.17% of Payoneer Global worth $4,329,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Payoneer Global by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 33,881,608 shares of the company's stock worth $247,675,000 after acquiring an additional 3,656,056 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Payoneer Global by 15.1% during the 1st quarter. American Century Companies Inc. now owns 9,403,250 shares of the company's stock worth $68,738,000 after acquiring an additional 1,236,598 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Payoneer Global by 3.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,970,295 shares of the company's stock worth $65,574,000 after acquiring an additional 260,306 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Payoneer Global by 15.5% during the 1st quarter. Millennium Management LLC now owns 7,537,691 shares of the company's stock worth $55,101,000 after acquiring an additional 1,014,096 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Payoneer Global by 50.1% during the 1st quarter. Victory Capital Management Inc. now owns 4,395,656 shares of the company's stock worth $32,132,000 after acquiring an additional 1,467,357 shares during the last quarter. 82.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PAYO has been the subject of a number of research analyst reports. Wall Street Zen lowered Payoneer Global from a "hold" rating to a "sell" rating in a research note on Tuesday, September 9th. Jefferies Financial Group lifted their target price on Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft assumed coverage on Payoneer Global in a research report on Thursday, July 17th. They set a "buy" rating and a $8.00 target price for the company. Needham & Company LLC lifted their target price on Payoneer Global from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, Citigroup reaffirmed a "buy" rating and set a $10.00 target price (down from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Payoneer Global has an average rating of "Moderate Buy" and a consensus price target of $10.06.

Payoneer Global Trading Down 2.1%

PAYO opened at $6.50 on Friday. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 8.74 and a beta of 0.98. Payoneer Global Inc. has a 12 month low of $5.71 and a 12 month high of $11.29. The stock has a fifty day moving average price of $6.74 and a 200-day moving average price of $6.89.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its quarterly 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). The company had revenue of $260.61 million during 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 company's revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 earnings per share. On average, equities research analysts forecast 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.

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