Price T Rowe Associates Inc. MD Grows Stock Holdings in Payoneer Global Inc. $PAYO

Key Points

• Price T Rowe Associates Inc. increased its stake in Payoneer Global by 3.0% in the first quarter, bringing their total ownership to approximately 2.49% valued at $65.6 million.
• Several institutional investors have made moves in Payoneer Global, with significant increases in holdings noted from Versant Capital Management Inc. and IFP Advisors Inc..
• Analysts have mixed opinions on Payoneer Global, with Wall Street Zen downgrading it to a "sell" while Citigroup maintains a "buy" rating with a lowered price target of $10.00.

Price T Rowe Associates Inc. MD grew its holdings in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,970,295 shares of the company's stock after buying an additional 260,306 shares during the quarter. Price T Rowe Associates Inc. MD owned about 2.49% of Payoneer Global worth $65,574,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC purchased a new position in Payoneer Global in the first quarter worth $25,000. Quarry LP purchased a new stake in shares of Payoneer Global during the 4th quarter worth $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Payoneer Global during the 1st quarter worth $34,000. Versant Capital Management Inc grew its stake in shares of Payoneer Global by 420.6% during the 1st quarter. Versant Capital Management Inc now owns 5,034 shares of the company's stock worth $37,000 after purchasing an additional 4,067 shares during the period. Finally, IFP Advisors Inc increased its holdings in shares of Payoneer Global by 47,800.0% in the 1st quarter. IFP Advisors Inc now owns 6,227 shares of the company's stock valued at $46,000 after purchasing an additional 6,214 shares in the last quarter. 82.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PAYO has been the topic of several recent analyst reports. Citigroup restated a "buy" rating and set a $10.00 target price (down from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. Keefe, Bruyette & Woods raised Payoneer Global from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $7.00 to $9.00 in a research note on Tuesday, May 13th. Jefferies Financial Group upped their price target on Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Needham & Company LLC lifted their price objective on Payoneer Global from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen lowered Payoneer Global from a "hold" rating to a "sell" rating in a report on Sunday, August 24th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.06.

Insider Buying and Selling

In related news, Director Susanna Morgan sold 16,180 shares of the business's stock in a transaction dated 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 transaction, the director owned 80,902 shares of the company's stock, valued at approximately $547,706.54. The trade was a 16.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.58% of the company's stock.

Payoneer Global Stock Up 1.0%

Shares of Payoneer Global stock traded up $0.07 during trading on Friday, hitting $6.95. 4,428,617 shares of the company were exchanged, compared to its average volume of 3,941,129. Payoneer Global Inc. has a fifty-two week low of $5.71 and a fifty-two week high of $11.29. The firm has a 50 day moving average price of $6.77 and a 200 day moving average price of $7.17. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 9.05 and a beta of 0.97.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Payoneer Global had a return on equity of 13.42% and a net margin of 9.81%.The company had revenue of $260.61 million for the quarter, compared to analysts' expectations of $253.17 million. During the same period in the previous year, the business posted $0.09 EPS. The business's quarterly revenue was up 8.8% on a year-over-year basis. Analysts predict that Payoneer Global Inc. will post 0.34 earnings per share for the current year.

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.