Insight Wealth Strategies LLC Grows Position in Payoneer Global Inc. (NASDAQ:PAYO)

Insight Wealth Strategies LLC lifted its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 25.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 368,599 shares of the company's stock after buying an additional 73,947 shares during the quarter. Insight Wealth Strategies LLC owned approximately 0.10% of Payoneer Global worth $2,694,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quarry LP purchased a new stake in Payoneer Global during the 4th quarter worth about $29,000. Smartleaf Asset Management LLC lifted its holdings in shares of Payoneer Global by 405.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company's stock valued at $38,000 after purchasing an additional 3,064 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Payoneer Global by 29.3% in the 4th quarter. Fifth Third Bancorp now owns 4,488 shares of the company's stock valued at $45,000 after purchasing an additional 1,016 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Payoneer Global by 21.2% in the 4th quarter. Blue Trust Inc. now owns 5,380 shares of the company's stock valued at $54,000 after purchasing an additional 940 shares during the last quarter. Finally, CreativeOne Wealth LLC purchased a new stake in shares of Payoneer Global in the 4th quarter valued at about $103,000. 82.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PAYO shares. Needham & Company LLC reduced their price objective on Payoneer Global from $14.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Jefferies Financial Group boosted their price objective on Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a research note on Tuesday, May 27th. The Goldman Sachs Group reduced their price objective on Payoneer Global from $11.00 to $9.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Citigroup reiterated a "buy" rating and issued a $10.00 price objective (down previously from $13.00) on shares of Payoneer Global in a research note on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on Payoneer Global in a research note on Monday, February 3rd. They issued a "buy" rating and a $13.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Payoneer Global presently has an average rating of "Buy" and an average price target of $10.44.

Payoneer Global Price Performance

Shares of PAYO stock traded down $0.03 during trading hours on Monday, reaching $6.79. 755,756 shares of the company's stock were exchanged, compared to its average volume of 3,178,812. The company has a market cap of $2.45 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 2.88 and a beta of 1.03. The company's 50 day moving average is $6.80 and its two-hundred day moving average is $8.79. Payoneer Global Inc. has a 1 year low of $5.03 and a 1 year high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). The business had revenue of $246.62 million during the quarter, compared to analysts' expectations of $244.52 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The company's revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. As a group, analysts predict that Payoneer Global Inc. will post 0.34 EPS for the current fiscal 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.