JPMorgan Chase & Co. Raises Position in Payoneer Global Inc. $PAYO

Key Points

• JPMorgan Chase boosted its stake in Payoneer Global by 128.5% in Q3 to 638,225 shares (0.18% ownership), worth about $3.86 million at quarter-end.
• Analysts remain generally positive—seven Buy ratings and one Hold give Payoneer an average "Moderate Buy" rating with a mean price target of $7.57, though several firms have trimmed targets recently.
• Payoneer missed last quarter's EPS ($0.05 vs. $0.06 est.) and revenue ($274.7M vs. $282.8M); the stock trades near $4.92 with a $1.7B market cap and a 52-week range of $4.08–$7.66.

JPMorgan Chase & Co. lifted its position in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 128.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 638,225 shares of the company's stock after acquiring an additional 358,922 shares during the quarter. JPMorgan Chase & Co. owned 0.18% of Payoneer Global worth $3,861,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PAYO. Osaic Holdings Inc. boosted its holdings in Payoneer Global by 246.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company's stock valued at $33,000 after purchasing an additional 3,298 shares in the last quarter. Quarry LP increased its position in Payoneer Global by 9,273.2% during the 3rd quarter. Quarry LP now owns 10,498 shares of the company's stock worth $64,000 after purchasing an additional 10,386 shares during the period. Marex Group plc purchased a new position in shares of Payoneer Global during the 2nd quarter worth approximately $72,000. Oak Thistle LLC acquired a new stake in shares of Payoneer Global in the 3rd quarter valued at approximately $73,000. Finally, Man Group plc acquired a new stake in shares of Payoneer Global in the 3rd quarter valued at approximately $78,000. 82.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PAYO has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods dropped their price objective on Payoneer Global from $7.50 to $7.00 and set an "outperform" rating on the stock in a report on Friday, February 27th. Wall Street Zen lowered shares of Payoneer Global from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. Bank of America initiated coverage on shares of Payoneer Global in a report on Wednesday, March 25th. They issued a "buy" rating and a $6.00 price target for the company. Needham & Company LLC reduced their price objective on shares of Payoneer Global from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. Finally, Benchmark decreased their price objective on shares of Payoneer Global from $10.00 to $7.00 and set a "buy" rating on the stock in a report on Friday, March 6th. Seven investment 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.com, Payoneer Global currently has an average rating of "Moderate Buy" and an average price target of $7.57.

Payoneer Global Stock Performance

PAYO opened at $4.92 on Friday. The business's fifty day moving average is $5.19 and its two-hundred day moving average is $5.59. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 0.62 and a beta of 1.03. Payoneer Global Inc. has a one year low of $4.08 and a one year high of $7.66.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The firm had revenue of $274.69 million during the quarter, compared to analysts' expectations of $282.79 million. Payoneer Global had a net margin of 6.95% and a return on equity of 10.89%. The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.05 EPS. On average, analysts predict that Payoneer Global Inc. will post 0.34 EPS for the current fiscal year.

Payoneer Global Profile

Payoneer Global NASDAQ: PAYO operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company's core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.

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