Principal Financial Group Inc. raised its holdings in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,593,475 shares of the company's stock after purchasing an additional 44,087 shares during the quarter. Principal Financial Group Inc. owned 0.44% of Payoneer Global worth $11,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in Payoneer Global by 559.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,480 shares of the company's stock valued at $62,000 after purchasing an additional 7,195 shares during the period. Illinois Municipal Retirement Fund grew its stake in Payoneer Global by 7.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 152,788 shares of the company's stock valued at $1,117,000 after purchasing an additional 10,490 shares during the period. Creative Financial Designs Inc. ADV grew its stake in Payoneer Global by 86.4% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 11,956 shares of the company's stock valued at $87,000 after purchasing an additional 5,542 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Payoneer Global during the 1st quarter worth $126,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of Payoneer Global during the 1st quarter worth $741,000. Institutional investors own 82.22% of the company's stock.
Insider Buying and Selling at Payoneer Global
In other Payoneer Global news, Director Susanna Morgan sold 16,180 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $6.77, for a total value of $109,538.60. Following the sale, the director owned 80,902 shares of the company's stock, valued at $547,706.54. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.58% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
PAYO has been the subject of several research reports. Jefferies Financial Group increased their price target on Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Keefe, Bruyette & Woods upgraded Payoneer Global from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $7.00 to $9.00 in a research note on Tuesday, May 13th. Citigroup reiterated a "buy" rating and set a $10.00 price target (down previously from $13.00) on shares of Payoneer Global in a research note on Thursday, May 22nd. The Goldman Sachs Group cut their price target 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. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Payoneer Global in a research note on Thursday. They set a "buy" rating and a $8.00 price target for the company. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $9.81.
Get Our Latest Analysis on Payoneer Global
Payoneer Global Stock Performance
NASDAQ PAYO traded up $0.06 during trading hours on Thursday, hitting $6.90. The company had a trading volume of 3,404,574 shares, compared to its average volume of 3,215,440. Payoneer Global Inc. has a 52 week low of $5.03 and a 52 week high of $11.29. The firm has a 50 day simple moving average of $6.85 and a 200 day simple moving average of $7.95. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 23.00 and a beta of 0.98.
Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). Payoneer Global had a return on equity of 15.70% and a net margin of 11.32%. The company had revenue of $246.62 million during the quarter, compared to the consensus estimate of $244.52 million. During the same quarter in the prior year, the business earned $0.08 EPS. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. On average, research analysts forecast that Payoneer Global Inc. will post 0.34 earnings per share for the current year.
Payoneer Global Profile
(
Free Report)
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.
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