Payoneer Global Inc. $PAYO Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies increased its Payoneer stake by 10.7% in Q3 to 7,326,825 shares (2.03% ownership) — institutional investors now hold about 82.22% of the stock.
• Analysts maintain a "Moderate Buy" consensus with a $8.00 average target despite several recent price-target cuts; seven analysts rate Buy and one rates Hold.
• Payoneer missed quarterly estimates (EPS $0.05 vs. $0.06 expected; revenue $274.7M vs. $282.8M expected), and the stock trades around $4.70 with a market cap of ~$1.68B.

American Century Companies Inc. grew its position in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 10.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,326,825 shares of the company's stock after buying an additional 707,790 shares during the quarter. American Century Companies Inc. owned 2.03% of Payoneer Global worth $44,327,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PAYO. Geode Capital Management LLC raised its holdings in Payoneer Global by 3.3% during the second quarter. Geode Capital Management LLC now owns 7,058,130 shares of the company's stock worth $48,353,000 after purchasing an additional 226,215 shares in the last quarter. Bailard Inc. acquired a new stake in shares of Payoneer Global in the 2nd quarter valued at approximately $419,000. GSA Capital Partners LLP boosted its stake in shares of Payoneer Global by 195.9% in the third quarter. GSA Capital Partners LLP now owns 395,610 shares of the company's stock valued at $2,393,000 after buying an additional 261,895 shares in the last quarter. Azora Capital LP acquired a new position in Payoneer Global during the second quarter worth $30,996,000. Finally, Neo Ivy Capital Management purchased a new position in Payoneer Global in the second quarter worth $806,000. Institutional investors and hedge funds own 82.22% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wall Street Zen lowered shares of Payoneer Global from a "hold" rating to a "sell" rating in a research report on Saturday. Weiss Ratings reiterated a "hold (c)" rating on shares of Payoneer Global in a research note on Thursday, January 22nd. Needham & Company LLC decreased their price objective on shares of Payoneer Global from $10.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. Benchmark lowered their target price on shares of Payoneer Global from $10.00 to $7.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Payoneer Global from $7.50 to $7.00 and set an "outperform" rating for the company in a report on Friday, February 27th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Payoneer Global currently has an average rating of "Moderate Buy" and a consensus target price of $8.00.

Payoneer Global Stock Down 3.1%

PAYO stock opened at $4.70 on Friday. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 0.59 and a beta of 1.09. Payoneer Global Inc. has a 52-week low of $4.08 and a 52-week high of $7.97. The stock's fifty day simple moving average is $5.51 and its 200-day simple moving average is $5.87.

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

About Payoneer Global

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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