Payoneer Global Inc. $PAYO Shares Sold by Victory Capital Management Inc.

Key Points

• Victory Capital Management reduced its Payoneer stake by 17.7% in Q3, selling 683,369 shares and ending the quarter with 3,187,045 shares (about 0.88% of the company, ~$19.3M).
• Payoneer missed expectations in the most recent quarter, reporting $0.05 EPS (vs. $0.06 consensus) and $274.7M in revenue (vs. $282.8M), though revenue was up about 5% year-over-year.
• The stock trades near $4.67 with a $1.66B market cap, ~82.2% institutional ownership, and an average analyst target of roughly $8 with a "Moderate Buy" consensus.

Victory Capital Management Inc. lessened its stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 17.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,187,045 shares of the company's stock after selling 683,369 shares during the quarter. Victory Capital Management Inc. owned about 0.88% of Payoneer Global worth $19,282,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Osaic Holdings Inc. boosted its stake in Payoneer Global by 246.5% during the second quarter. Osaic Holdings Inc. now owns 4,636 shares of the company's stock worth $33,000 after buying an additional 3,298 shares during the last quarter. Journey Strategic Wealth LLC purchased a new position in shares of Payoneer Global during the 2nd quarter worth $71,000. Marex Group plc purchased a new position in shares of Payoneer Global during the 2nd quarter worth $72,000. Shelton Capital Management acquired a new position in shares of Payoneer Global during the 2nd quarter valued at about $81,000. Finally, Oak Thistle LLC acquired a new position in shares of Payoneer Global during the 3rd quarter valued at about $73,000. Hedge funds and other institutional investors own 82.22% of the company's stock.

Payoneer Global Stock Performance

NASDAQ PAYO opened at $4.67 on Wednesday. Payoneer Global Inc. has a one year low of $4.08 and a one year high of $7.97. The firm has a 50 day simple moving average of $5.47 and a 200-day simple moving average of $5.83. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 0.58 and a beta of 1.09.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Needham & Company LLC cut 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 report on Thursday, February 26th. Benchmark decreased their target price 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. Wall Street Zen downgraded shares of Payoneer Global from a "hold" rating to a "sell" rating in a report on Saturday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Payoneer Global in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods decreased 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. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $8.00.

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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