Point72 Asset Management L.P. Reduces Stake in Payoneer Global Inc. (NASDAQ:PAYO)

Point72 Asset Management L.P. lessened its stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 48.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,641 shares of the company's stock after selling 67,640 shares during the period. Point72 Asset Management L.P.'s holdings in Payoneer Global were worth $719,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Susquehanna Capital Management LLC boosted its position in Payoneer Global by 290.3% in the 4th quarter. Susquehanna Capital Management LLC now owns 25,268,954 shares of the company's stock worth $253,700,000 after purchasing an additional 18,794,047 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Payoneer Global by 5.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,709,989 shares of the company's stock worth $87,450,000 after buying an additional 440,231 shares during the period. American Century Companies Inc. raised its stake in shares of Payoneer Global by 24.8% during the 4th quarter. American Century Companies Inc. now owns 8,166,652 shares of the company's stock worth $81,993,000 after buying an additional 1,624,948 shares during the period. Geode Capital Management LLC raised its stake in shares of Payoneer Global by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,777,377 shares of the company's stock worth $68,059,000 after buying an additional 156,252 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Payoneer Global by 0.3% during the 4th quarter. Millennium Management LLC now owns 6,523,595 shares of the company's stock worth $65,497,000 after buying an additional 21,149 shares during the period. Hedge funds and other institutional investors own 82.22% of the company's stock.

Payoneer Global Price Performance

NASDAQ PAYO traded up $0.03 during mid-day trading on Tuesday, hitting $6.84. The stock had a trading volume of 1,237,734 shares, compared to its average volume of 3,183,992. The firm's 50 day moving average is $6.87 and its 200 day moving average is $8.89. Payoneer Global Inc. has a twelve month low of $5.03 and a twelve month high of $11.29. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 2.88 and a beta of 1.03.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $246.62 million during the quarter, compared to analyst estimates of $244.52 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 earnings per share. As a group, equities research analysts expect that Payoneer Global Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PAYO shares. The Goldman Sachs Group reduced their target price on Payoneer Global from $11.00 to $9.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft started coverage on Payoneer Global in a research note on Monday, February 3rd. They set a "buy" rating and a $13.00 target price for the company. Jefferies Financial Group upped their target price on Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a research note on Tuesday. Needham & Company LLC reduced their target price on Payoneer Global from $14.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, Keefe, Bruyette & Woods raised Payoneer Global from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $7.00 to $9.00 in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $10.44.

Payoneer Global Company 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.