Payoneer Global Inc. (NASDAQ:PAYO) is Battery Global Advisors LLC's 3rd Largest Position

Key Points

• Battery Global Advisors LLC has reduced its holdings in Payoneer Global Inc. by 6.5%, now owning approximately 2.9 million shares, which make up about 11.8% of the firm's portfolio.
• Payoneer Global has received several upgrades from analysts, with Keefe, Bruyette & Woods raising its price target from $7.00 to $9.00, indicating a positive outlook for the stock.
• In its latest financial report, Payoneer Global missed earnings expectations with $0.05 EPS compared to the consensus estimate of $0.06, but reported a revenue of $260.61 million, exceeding analyst projections.

Battery Global Advisors LLC decreased its holdings in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 6.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,890,975 shares of the company's stock after selling 200,000 shares during the period. Payoneer Global comprises approximately 11.8% of Battery Global Advisors LLC's holdings, making the stock its 3rd largest holding. Battery Global Advisors LLC owned approximately 0.80% of Payoneer Global worth $21,133,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Payoneer Global by 12.1% during the first quarter. Vanguard Group Inc. now owns 33,881,608 shares of the company's stock valued at $247,675,000 after acquiring an additional 3,656,056 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Payoneer Global during the 1st quarter worth $445,000. Federated Hermes Inc. raised its position in Payoneer Global by 706.1% during the 1st quarter. Federated Hermes Inc. now owns 47,626 shares of the company's stock valued at $348,000 after purchasing an additional 41,718 shares in the last quarter. Fiera Capital Corp purchased a new stake in shares of Payoneer Global in the 1st quarter worth $12,102,000. Finally, Mackenzie Financial Corp grew its position in shares of Payoneer Global by 11.5% during the 1st quarter. Mackenzie Financial Corp now owns 52,294 shares of the company's stock worth $382,000 after buying an additional 5,379 shares in the last quarter. 82.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PAYO shares. Keefe, Bruyette & Woods upgraded Payoneer Global from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $7.00 to $9.00 in a report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Payoneer Global in a research report on Thursday, July 17th. They issued a "buy" rating and a $8.00 price target for the company. Citigroup reissued 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. Jefferies Financial Group increased 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. Finally, Needham & Company LLC boosted their price target on Payoneer Global from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Wednesday. One investment 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.com, the stock presently has a consensus rating of "Buy" and an average price target of $10.06.

Insider Activity

In related news, Director Susanna Morgan sold 16,180 shares of Payoneer Global stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $6.77, for a total value of $109,538.60. Following the completion of the sale, the director directly owned 80,902 shares in the company, valued at $547,706.54. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.58% of the stock is currently owned by company insiders.

Payoneer Global Trading Up 14.2%

Shares of PAYO opened at $7.42 on Thursday. The firm has a market cap of $2.68 billion, a PE ratio of 24.73 and a beta of 0.97. 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 $6.76 and a 200-day moving average price of $7.61.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $260.61 million for the quarter, compared to analyst estimates of $253.17 million. Payoneer Global had a net margin of 11.32% and a return on equity of 15.70%. The company's quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 earnings per share. As a group, research analysts forecast that Payoneer Global Inc. will post 0.34 EPS for the current year.

About Payoneer Global

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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