Voloridge Investment Management LLC Acquires New Position in Payoneer Global Inc. (NASDAQ:PAYO)

Voloridge Investment Management LLC bought a new stake in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,324,882 shares of the company's stock, valued at approximately $13,302,000. Voloridge Investment Management LLC owned about 0.37% of Payoneer Global at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PAYO. Robeco Institutional Asset Management B.V. bought a new position in Payoneer Global in the 4th quarter worth about $1,233,000. Y Intercept Hong Kong Ltd bought a new stake in Payoneer Global during the fourth quarter valued at approximately $1,276,000. Entropy Technologies LP purchased a new position in shares of Payoneer Global during the fourth quarter worth approximately $540,000. Allspring Global Investments Holdings LLC raised its stake in shares of Payoneer Global by 133.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 97,538 shares of the company's stock worth $990,000 after acquiring an additional 55,766 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of Payoneer Global during the fourth quarter worth approximately $1,809,000. 82.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Payoneer Global in a research note on Monday, February 3rd. They issued a "buy" rating and a $13.00 target price on the stock. Keefe, Bruyette & Woods raised shares of Payoneer Global from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $7.00 to $9.00 in a research report on Tuesday, May 13th. Needham & Company LLC reduced their price objective on shares of Payoneer Global from $14.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. The Goldman Sachs Group reduced their price objective on shares of Payoneer Global from $11.00 to $9.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, Citigroup reissued a "buy" rating and set a $10.00 price objective (down from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $10.44.

Payoneer Global Price Performance

Payoneer Global stock traded up $0.04 during midday trading on Thursday, reaching $6.85. 552,365 shares of the company traded hands, compared to its average volume of 3,175,401. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 2.88 and a beta of 1.03. The business has a 50 day moving average of $6.84 and a two-hundred day moving average of $8.86. Payoneer Global Inc. has a 12 month low of $5.03 and a 12 month high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). The business had revenue of $246.62 million for the quarter, compared to analysts' expectations of $244.52 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The firm's quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 earnings per share. As a group, equities analysts forecast that Payoneer Global Inc. will post 0.34 EPS 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.