Price T Rowe Associates Inc. MD Raises 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 increased its holdings in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 2.49% of Payoneer Global worth $65,574,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Payoneer Global by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,016 shares of the company's stock worth $132,000 after acquiring an additional 1,808 shares during the period. Quarry LP purchased a new stake in shares of Payoneer Global in the 4th quarter worth $29,000. Farther Finance Advisors LLC bought a new position in Payoneer Global in the 1st quarter worth $25,000. Corton Capital Inc. raised its holdings in Payoneer Global by 27.8% in the 1st quarter. Corton Capital Inc. now owns 15,971 shares of the company's stock worth $117,000 after purchasing an additional 3,475 shares during the period. Finally, Versant Capital Management Inc lifted its position in Payoneer Global by 420.6% during the first quarter. Versant Capital Management Inc now owns 5,034 shares of the company's stock valued at $37,000 after purchasing an additional 4,067 shares in the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.

Payoneer Global Price Performance

Shares of Payoneer Global stock traded up $0.07 on Monday, reaching $6.95. The company had a trading volume of 4,428,617 shares, compared to its average volume of 3,963,585. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 9.15 and a beta of 0.98. The firm's 50-day moving average price is $6.78 and its two-hundred day moving average price is $7.10. Payoneer Global Inc. has a 1 year low of $5.71 and a 1 year high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.05 EPS 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 firm 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 firm earned $0.09 earnings per share. The firm's quarterly revenue was up 8.8% compared to the same quarter last year. As a group, analysts anticipate that Payoneer Global Inc. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PAYO shares. Citigroup restated a "buy" rating and issued a $10.00 price target (down previously from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. Wall Street Zen upgraded shares of Payoneer Global from a "sell" rating to a "hold" rating in a research note on Monday. Keefe, Bruyette & Woods upgraded shares of Payoneer Global from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $7.00 to $9.00 in a research note on Tuesday, May 13th. Needham & Company LLC upped their price target on Payoneer Global from $8.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Jefferies Financial Group lifted their target price on Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $10.06.

Payoneer Global 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.