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 stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Sunday.

Several other research firms also recently commented on PAYO. Deutsche Bank Aktiengesellschaft began coverage on shares of Payoneer Global in a research note on Thursday, July 17th. They issued a "buy" rating and a $8.00 price target for the company. Jefferies Financial Group boosted their price target on shares of Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Citigroup reaffirmed a "buy" rating and issued a $10.00 target price (down from $13.00) on shares of Payoneer Global in a report on Thursday, May 22nd. Keefe, Bruyette & Woods upgraded shares of Payoneer Global from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $7.00 to $9.00 in a research note on Tuesday, May 13th. Finally, Needham & Company LLC boosted their price target on shares of Payoneer Global from $8.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $10.06.

Payoneer Global Stock Up 1.0%

PAYO traded up $0.07 during trading on Friday, reaching $6.95. The company's stock had a trading volume of 4,428,617 shares, compared to its average volume of 3,941,129. The firm has a fifty day simple moving average of $6.77 and a two-hundred day simple moving average of $7.17. Payoneer Global has a 1 year low of $5.71 and a 1 year high of $11.29. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 9.05 and a beta of 0.97.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.05 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the firm posted $0.09 EPS. The firm's quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities analysts forecast 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 shares were sold at an average price of $6.77, for a total transaction of $109,538.60. Following the transaction, the director owned 80,902 shares of the company's stock, valued at approximately $547,706.54. This represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.58% of the company's stock.

Hedge Funds Weigh In On Payoneer Global

Several institutional investors and hedge funds have recently modified their holdings of the company. Thrivent Financial for Lutherans lifted its stake in shares of Payoneer Global by 1.5% during the second quarter. Thrivent Financial for Lutherans now owns 191,478 shares of the company's stock valued at $1,312,000 after buying an additional 2,882 shares during the period. Marex Group plc purchased a new position in shares of Payoneer Global during the second quarter valued at approximately $72,000. Public Sector Pension Investment Board lifted its stake in shares of Payoneer Global by 9.0% during the second quarter. Public Sector Pension Investment Board now owns 887,736 shares of the company's stock valued at $6,081,000 after buying an additional 73,500 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Payoneer Global by 249.4% during the second quarter. Tower Research Capital LLC TRC now owns 41,245 shares of the company's stock valued at $283,000 after buying an additional 29,439 shares during the period. Finally, Corient Private Wealth LLC purchased a new position in shares of Payoneer Global during the second quarter valued at approximately $110,000. Hedge funds and other institutional investors own 82.22% of the company's stock.

About Payoneer Global

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.