Payoneer Global Inc. (NASDAQ:PAYO) Shares Sold by Comerica Bank

Comerica Bank lessened its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO - Free Report) by 39.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 89,652 shares of the company's stock after selling 59,436 shares during the period. Comerica Bank's holdings in Payoneer Global were worth $900,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new stake in shares of Payoneer Global in the fourth quarter valued at about $29,000. Smartleaf Asset Management LLC grew its holdings in shares of Payoneer Global by 405.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company's stock valued at $38,000 after purchasing an additional 3,064 shares during the period. Fifth Third Bancorp grew its holdings in shares of Payoneer Global by 29.3% in the fourth quarter. Fifth Third Bancorp now owns 4,488 shares of the company's stock valued at $45,000 after purchasing an additional 1,016 shares during the period. Blue Trust Inc. grew its holdings in shares of Payoneer Global by 21.2% in the fourth quarter. Blue Trust Inc. now owns 5,380 shares of the company's stock valued at $54,000 after purchasing an additional 940 shares during the period. Finally, CreativeOne Wealth LLC purchased a new stake in shares of Payoneer Global in the fourth quarter valued at about $103,000. Institutional investors and hedge funds own 82.22% of the company's stock.

Analysts Set New Price Targets

PAYO has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised shares of 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 report on Tuesday. Needham & Company LLC dropped their price objective on shares of Payoneer Global from $14.00 to $8.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Payoneer Global in a report on Monday, February 3rd. They issued a "buy" rating and a $13.00 price objective for the company. Citigroup upped their target price on shares of Payoneer Global from $14.50 to $16.50 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group decreased their target price 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. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $11.64.

Payoneer Global Trading Up 1.5%

NASDAQ PAYO traded up $0.11 during trading hours on Friday, reaching $7.21. The company had a trading volume of 2,481,780 shares, compared to its average volume of 3,183,388. The stock has a 50-day moving average of $6.91 and a 200 day moving average of $9.01. Payoneer Global Inc. has a 1-year low of $5.03 and a 1-year high of $11.29. The stock has a market capitalization of $2.59 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 2.88 and a beta of 1.03.

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