Payoneer Global (NASDAQ:PAYO) Cut to Sell at Wall Street Zen

Key Points

• Payoneer Global was downgraded from a "hold" to a "sell" rating by analysts at Wall Street Zen, indicating a more negative outlook for the company.
• Despite the downgrade, several other analysts, including Keefe, Bruyette & Woods and Jefferies Financial Group, have maintained positive ratings with increased price targets for the stock.
• The stock of Payoneer Global is currently trading at approximately $7.01, with a market cap of $2.53 billion, while showing a significant year-to-year revenue increase of 8.8%.

Payoneer Global (NASDAQ:PAYO - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Sunday.

A number of other equities analysts have also recently weighed in on the company. Keefe, Bruyette & Woods upgraded Payoneer Global from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $7.00 to $9.00 in a report on Tuesday, May 13th. Jefferies Financial Group upped their price target on Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Needham & Company LLC increased their target price on Payoneer Global from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Payoneer Global in a research note on Thursday, July 17th. They set a "buy" rating and a $8.00 target price for the company. Finally, Citigroup reiterated a "buy" rating and set a $10.00 target price (down from $13.00) on shares of Payoneer Global in a research note on Thursday, May 22nd. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $10.06.

Payoneer Global Stock Up 5.4%

NASDAQ PAYO opened at $7.01 on Friday. The stock has a market cap of $2.53 billion, a PE ratio of 26.96, a P/E/G ratio of 9.22 and a beta of 0.97. Payoneer Global has a fifty-two week low of $5.71 and a fifty-two week high of $11.29. The business has a 50 day moving average price of $6.75 and a two-hundred day moving average price of $7.27.

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 for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The company had revenue of $260.61 million during the quarter, compared to analysts' expectations of $253.17 million. Payoneer Global had a return on equity of 13.42% and a net margin of 9.81%.The firm's revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 EPS. Sell-side analysts anticipate that Payoneer Global will post 0.34 EPS for the current fiscal year.

Insider Activity

In related news, Director Susanna Morgan sold 16,180 shares of the company's 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 sale, the director directly owned 80,902 shares of the company's stock, valued at approximately $547,706.54. This represents a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.58% of the company's stock.

Institutional Investors Weigh In On Payoneer Global

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Payoneer Global by 12.1% in the first quarter. Vanguard Group Inc. now owns 33,881,608 shares of the company's stock worth $247,675,000 after buying an additional 3,656,056 shares during the period. American Century Companies Inc. increased its position in Payoneer Global by 15.1% in the first quarter. American Century Companies Inc. now owns 9,403,250 shares of the company's stock worth $68,738,000 after buying an additional 1,236,598 shares during the period. Price T Rowe Associates Inc. MD increased its position in Payoneer Global by 3.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,970,295 shares of the company's stock worth $65,574,000 after buying an additional 260,306 shares during the period. Millennium Management LLC increased its position in Payoneer Global by 15.5% in the first quarter. Millennium Management LLC now owns 7,537,691 shares of the company's stock worth $55,101,000 after buying an additional 1,014,096 shares during the period. Finally, Geode Capital Management LLC increased its position in Payoneer Global by 3.3% in the second quarter. Geode Capital Management LLC now owns 7,058,130 shares of the company's stock worth $48,353,000 after buying an additional 226,215 shares during the period. 82.22% of the stock is owned by institutional investors and hedge funds.

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.

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