Payoneer Global (NASDAQ:PAYO) Downgraded by Wall Street Zen to "Sell"

Key Points

• Payoneer Global was downgraded from a "hold" to a "sell" rating by Wall Street Zen, indicating a negative outlook for the company.
• Despite the downgrade, Payoneer Global has a consensus rating of "Moderate Buy" from eight analysts, with an average price target of $10.06.
• The company's recent quarterly earnings report showed a revenue increase of 8.8% year-over-year, although it missed earnings per share estimates by $0.01.

Payoneer Global (NASDAQ:PAYO - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

PAYO has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft began coverage on Payoneer Global in a research report on Thursday, July 17th. They set a "buy" rating and a $8.00 price target for the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Payoneer Global in a research report on Wednesday, October 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 price target on shares of Payoneer Global in a research report on Monday, October 6th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Payoneer Global has a consensus rating of "Moderate Buy" and an average target price of $10.06.

Payoneer Global Price Performance

PAYO opened at $5.80 on Friday. The business has a 50 day simple moving average of $6.49 and a two-hundred day simple moving average of $6.66. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 7.20 and a beta of 0.95. Payoneer Global has a one year low of $5.66 and a one year high of $11.29.

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 analysts' consensus estimates of $0.06 by ($0.01). The business had revenue of $260.61 million for the quarter, compared to the consensus estimate of $253.17 million. Payoneer Global had a net margin of 9.81% and a return on equity of 13.42%. The company's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 EPS. As a group, sell-side analysts expect that Payoneer Global will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Payoneer Global by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,593,475 shares of the company's stock worth $11,648,000 after acquiring an additional 44,087 shares in the last quarter. Invesco Ltd. raised its position in shares of Payoneer Global by 136.4% in the 1st quarter. Invesco Ltd. now owns 2,343,706 shares of the company's stock worth $17,132,000 after acquiring an additional 1,352,438 shares in the last quarter. Strs Ohio bought a new position in shares of Payoneer Global in the 1st quarter worth approximately $812,000. Millennium Management LLC grew its stake in shares of Payoneer Global by 15.5% in the 1st 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 last quarter. Finally, Aspen Capital Management LLC purchased a new stake in shares of Payoneer Global in the 1st quarter worth approximately $1,420,000. 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.

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