Payoneer Global Inc. $PAYO Stock Position Raised by Trexquant Investment LP

Key Points

• Trexquant Investment LP increased its stake in Payoneer Global Inc. by 53.2% during the first quarter, now holding approximately 751,923 shares valued at around $5.5 million.
• Payoneer reported $260.61 million in revenue for the last quarter, which exceeded analysts' expectations, despite missing EPS estimates at $0.05 against a consensus of $0.06.
• Analysts are optimistic about Payoneer, with several firms increasing their target prices, leading to a consensus target price of $10.06 and a rating of "Moderate Buy".

Trexquant Investment LP raised its stake in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 53.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 751,923 shares of the company's stock after purchasing an additional 261,233 shares during the quarter. Trexquant Investment LP owned about 0.21% of Payoneer Global worth $5,497,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PAYO. Mariner LLC acquired a new position in shares of Payoneer Global in the 4th quarter valued at $283,000. Hsbc Holdings PLC boosted its holdings in shares of Payoneer Global by 185.5% in the 4th quarter. Hsbc Holdings PLC now owns 97,913 shares of the company's stock valued at $986,000 after purchasing an additional 63,613 shares during the last quarter. Quarry LP acquired a new position in shares of Payoneer Global during the 4th quarter valued at $29,000. Northern Trust Corp lifted its holdings in shares of Payoneer Global by 17.9% during the 4th quarter. Northern Trust Corp now owns 3,019,162 shares of the company's stock valued at $30,312,000 after acquiring an additional 458,594 shares in the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Payoneer Global by 9.2% during the 4th quarter. Algert Global LLC now owns 198,302 shares of the company's stock valued at $1,991,000 after acquiring an additional 16,695 shares in the last quarter. Institutional investors and hedge funds own 82.22% of the company's stock.

Payoneer Global Price Performance

Payoneer Global stock traded down $0.05 during midday trading on Friday, hitting $6.65. 2,534,595 shares of the stock were exchanged, compared to its average volume of 2,802,339. Payoneer Global Inc. has a 1 year low of $5.71 and a 1 year high of $11.29. The firm has a market cap of $2.40 billion, a P/E ratio of 25.58, a P/E/G ratio of 8.75 and a beta of 0.98. The company has a 50 day moving average price of $6.77 and a two-hundred day moving average price of $7.01.

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 (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 last year, the firm earned $0.09 EPS. The business's quarterly revenue was up 8.8% on a year-over-year basis. As a group, analysts predict that Payoneer Global Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PAYO shares. Needham & Company LLC lifted their target price on shares of Payoneer Global from $8.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Citigroup restated a "buy" rating and set a $10.00 target price (down previously from $13.00) on shares of Payoneer Global in a report on Thursday, May 22nd. Jefferies Financial Group lifted their target price on shares of Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft started coverage on shares of Payoneer Global in a report on Thursday, July 17th. They set a "buy" rating and a $8.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Payoneer Global from a "sell" rating to a "hold" rating in a report on Monday, September 1st. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $10.06.

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.