Northern Trust Corp Boosts Stake in Payoneer Global Inc. (NASDAQ:PAYO)

Northern Trust Corp raised its holdings in Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 17.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,019,162 shares of the company's stock after buying an additional 458,594 shares during the quarter. Northern Trust Corp owned 0.85% of Payoneer Global worth $30,312,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP bought a new stake in shares of Payoneer Global during the fourth quarter valued at approximately $29,000. Smartleaf Asset Management LLC increased its holdings in shares of Payoneer Global by 405.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company's stock valued at $38,000 after acquiring an additional 3,064 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Payoneer Global by 29.3% during the fourth quarter. Fifth Third Bancorp now owns 4,488 shares of the company's stock valued at $45,000 after acquiring an additional 1,016 shares in the last quarter. Blue Trust Inc. grew its holdings in Payoneer Global by 21.2% during the fourth quarter. Blue Trust Inc. now owns 5,380 shares of the company's stock worth $54,000 after buying an additional 940 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Payoneer Global by 41.7% during the fourth quarter. GAMMA Investing LLC now owns 8,241 shares of the company's stock worth $83,000 after buying an additional 2,425 shares in the last quarter. Institutional investors own 82.22% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PAYO. Keefe, Bruyette & Woods upgraded Payoneer Global from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $7.00 to $9.00 in a research note on Tuesday. Citigroup upped their price objective on Payoneer Global from $14.50 to $16.50 and gave the company a "buy" rating in a research note on Tuesday, March 4th. The Goldman Sachs Group reduced their price objective 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. Needham & Company LLC dropped their price target on Payoneer Global from $14.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Payoneer Global in a research report on Monday, February 3rd. They set a "buy" rating and a $13.00 price target on the stock. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $11.64.

Payoneer Global Stock Up 1.6%

Shares of Payoneer Global stock traded up $0.12 on Friday, reaching $7.22. The company's stock had a trading volume of 649,265 shares, compared to its average volume of 3,171,139. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 20.61, a P/E/G ratio of 2.88 and a beta of 1.03. The firm's fifty day simple moving average is $6.91 and its two-hundred day simple moving average is $9.02. Payoneer Global Inc. has a 52 week low of $5.03 and a 52 week high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its quarterly earnings data 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 17.78% and a net margin of 13.82%. The firm had revenue of $246.62 million during the quarter, compared to the consensus estimate of $244.52 million. During the same period in the previous year, the firm earned $0.08 EPS. The business's revenue was up 8.1% on a year-over-year basis. As a group, research analysts predict that Payoneer Global Inc. will post 0.34 EPS for the current year.

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.