Payoneer Global Inc. $PAYO Stock Position Increased by Insight Wealth Strategies LLC

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

A number of other hedge funds have also recently bought and sold shares of PAYO. Bank of America Corp DE grew its stake in Payoneer Global by 34.0% during the 4th quarter. Bank of America Corp DE now owns 2,508,530 shares of the company's stock valued at $25,186,000 after purchasing an additional 636,473 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Payoneer Global by 5.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 445,474 shares of the company's stock valued at $4,473,000 after purchasing an additional 22,668 shares in the last quarter. ProShare Advisors LLC grew its stake in Payoneer Global by 48.4% during the 4th quarter. ProShare Advisors LLC now owns 86,783 shares of the company's stock valued at $871,000 after purchasing an additional 28,286 shares in the last quarter. Tidal Investments LLC grew its stake in Payoneer Global by 14.0% during the 4th quarter. Tidal Investments LLC now owns 222,733 shares of the company's stock valued at $2,236,000 after purchasing an additional 27,326 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in Payoneer Global by 20.9% during the 4th quarter. Two Sigma Investments LP now owns 2,659,520 shares of the company's stock valued at $26,702,000 after purchasing an additional 458,891 shares in the last quarter. Institutional investors and hedge funds own 82.22% of the company's stock.

Payoneer Global Price Performance

Shares of PAYO traded down $0.02 during midday trading on Friday, reaching $6.63. The stock had a trading volume of 1,240,295 shares, compared to its average volume of 3,344,166. Payoneer Global Inc. has a 52 week low of $5.71 and a 52 week high of $11.29. The firm's 50 day moving average price is $6.73 and its 200-day moving average price is $6.85. The company has a market capitalization of $2.39 billion, a P/E ratio of 25.44, a P/E/G ratio of 8.92 and a beta of 0.98.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $253.17 million. During the same period in the prior year, the firm posted $0.09 EPS. The firm's quarterly revenue was up 8.8% on a year-over-year basis. On average, equities analysts forecast that Payoneer Global Inc. will post 0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PAYO shares. Needham & Company LLC raised their price objective on Payoneer Global from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft started coverage on Payoneer Global in a research report on Thursday, July 17th. They issued a "buy" rating and a $8.00 target price for the company. Wall Street Zen lowered Payoneer Global from a "hold" rating to a "sell" rating in a research report on Tuesday, September 9th. Citigroup reiterated a "buy" rating and issued a $10.00 target price (down previously from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. Finally, Jefferies Financial Group lifted their target price on Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.06.

Payoneer Global Company 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.