Jefferies Financial Group Inc. Purchases New Shares in Payoneer Global Inc. (NASDAQ:PAYO)

Key Points

• Jefferies Financial Group acquired 60,936 shares valued at approximately $445,000 in Payoneer Global Inc. during the first quarter, as per its SEC filing.
• Several hedge funds, including JPMorgan Chase & Co. and Pictet Asset Management, significantly increased their stakes in Payoneer Global, indicating strong institutional support.
• Analysts have raised price targets for Payoneer Global to as high as $10.00, with an average rating of "Buy" reflecting positive outlook on the company's performance.

Jefferies Financial Group Inc. purchased a new position in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 60,936 shares of the company's stock, valued at approximately $445,000.

A number of other large investors have also modified their holdings of PAYO. Summit Investment Advisors Inc. raised its position in shares of Payoneer Global by 5.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 30,355 shares of the company's stock valued at $305,000 after purchasing an additional 1,663 shares during the last quarter. Bank of Montreal Can increased its stake in Payoneer Global by 8.6% during the 4th quarter. Bank of Montreal Can now owns 28,613 shares of the company's stock valued at $287,000 after purchasing an additional 2,258 shares in the last quarter. Quarry LP purchased a new position in shares of Payoneer Global in the fourth quarter worth $29,000. Farther Finance Advisors LLC purchased a new position in shares of Payoneer Global in the first quarter worth $25,000. Finally, Corton Capital Inc. lifted its stake in shares of Payoneer Global by 27.8% during the first quarter. Corton Capital Inc. now owns 15,971 shares of the company's stock worth $117,000 after buying an additional 3,475 shares during the period. Hedge funds and other institutional investors own 82.22% of the company's stock.

Analyst Upgrades and Downgrades

PAYO has been the topic of several research reports. Jefferies Financial Group upped 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. Keefe, Bruyette & Woods upgraded Payoneer Global from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $7.00 to $9.00 in a research note on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft initiated coverage on Payoneer Global in a research note on Thursday, July 17th. They issued a "buy" rating and a $8.00 price objective for the company. Needham & Company LLC lifted their target price on Payoneer Global from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, 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. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Payoneer Global has an average rating of "Buy" and a consensus price target of $10.06.

Insiders Place Their Bets

In other news, Director Susanna Morgan sold 16,180 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $6.77, for a total transaction of $109,538.60. Following the sale, the director directly owned 80,902 shares of the company's stock, valued at $547,706.54. This represents a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.58% of the company's stock.

Payoneer Global Price Performance

NASDAQ:PAYO traded down $0.35 during trading hours on Friday, reaching $6.64. The company had a trading volume of 4,531,829 shares, compared to its average volume of 3,497,852. Payoneer Global Inc. has a 1-year low of $5.71 and a 1-year high of $11.29. The business's 50 day moving average price is $6.76 and its 200-day moving average price is $7.54. The firm has a market cap of $2.40 billion, a PE ratio of 25.54 and a beta of 0.97.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its earnings results 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). Payoneer Global had a net margin of 9.81% and a return on equity of 13.42%. The firm had revenue of $260.61 million for the quarter, compared to analysts' expectations of $253.17 million. During the same period last year, the firm earned $0.09 earnings per share. Payoneer Global's revenue for the quarter was up 8.8% compared to the same quarter last year. On average, analysts expect that Payoneer Global Inc. will post 0.34 earnings per share 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.