Payoneer Global Inc. $PAYO Position Boosted by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Payoneer Global by 12.1%, acquiring an additional 3,656,056 shares and now holding 9.42% of the company, valued at approximately $247,675,000.
• Payoneer Global's stock is currently trading at $6.86, with a 52-week range of $5.71 to $11.29, and has seen a recent 1.9% increase.
• Analysts are optimistic about Payoneer’s growth, with an average target price of $10.06 and multiple firms, including Citigroup and Needham & Company, maintaining or increasing their buy ratings.

Vanguard Group Inc. boosted its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 12.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,881,608 shares of the company's stock after buying an additional 3,656,056 shares during the quarter. Vanguard Group Inc. owned 9.42% of Payoneer Global worth $247,675,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Principal Financial Group Inc. grew its holdings in shares of Payoneer Global by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,593,475 shares of the company's stock worth $11,648,000 after acquiring an additional 44,087 shares during the period. Aspen Capital Management LLC acquired a new stake in shares of Payoneer Global during the 1st quarter worth about $1,420,000. SG Americas Securities LLC boosted its position in Payoneer Global by 2,262.5% during the first quarter. SG Americas Securities LLC now owns 1,215,581 shares of the company's stock worth $8,886,000 after acquiring an additional 1,164,128 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Payoneer Global by 559.9% in the first 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. Finally, Victory Capital Management Inc. increased its stake in shares of Payoneer Global by 50.1% during the 1st quarter. Victory Capital Management Inc. now owns 4,395,656 shares of the company's stock valued at $32,132,000 after acquiring an additional 1,467,357 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PAYO. Jefferies Financial Group lifted their price target 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 assumed coverage on Payoneer Global in a report on Thursday, July 17th. They issued a "buy" rating and a $8.00 target price on the stock. Citigroup reissued a "buy" rating and set a $10.00 price target (down previously from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. Keefe, Bruyette & Woods upgraded Payoneer Global from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $7.00 to $9.00 in a report on Tuesday, May 13th. Finally, Needham & Company LLC boosted their target price on Payoneer Global from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $10.06.

Payoneer Global Stock Performance

Payoneer Global stock remained flat at $6.65 during midday trading on Thursday. The company had a trading volume of 3,125,479 shares, compared to its average volume of 3,407,009. The company has a market cap of $2.40 billion, a P/E ratio of 25.58, a PEG ratio of 8.83 and a beta of 0.97. Payoneer Global Inc. has a 12-month low of $5.71 and a 12-month high of $11.29. The stock has a fifty day simple moving average of $6.74 and a two-hundred day simple moving average of $7.35.

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

Insider Activity

In other news, Director Susanna Morgan sold 16,180 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $6.77, for a total transaction of $109,538.60. Following the completion of the transaction, the director directly owned 80,902 shares in the company, valued at approximately $547,706.54. This represents a 16.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.58% of the stock is currently owned by insiders.

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.