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

Key Points

• Payoneer Global has been dropped to a "sell" rating by Wall Street Zen, changing its previous "hold" rating.
• Several analysts support Payoneer with buy ratings, while Needham & Company raised the price target from $8.00 to $10.00.
• The company reported a revenue increase of 8.8% year-over-year, with earnings per share missing consensus estimates by $0.01.

Wall Street Zen lowered shares of Payoneer Global (NASDAQ:PAYO - Free Report) from a hold rating to a sell rating in a research report released on Tuesday morning.

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

Payoneer Global Stock Performance

Shares of Payoneer Global stock traded down $0.14 during trading on Tuesday, hitting $6.50. 1,899,270 shares of the stock were exchanged, compared to its average volume of 2,711,796. The stock's fifty day moving average is $6.74 and its 200 day moving average is $6.89. The stock has a market cap of $2.34 billion, a PE ratio of 25.00, a P/E/G ratio of 8.74 and a beta of 0.98. Payoneer Global has a 12 month low of $5.71 and a 12 month high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last announced 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 during the quarter, compared to analyst estimates of $253.17 million. During the same quarter in the previous year, the business posted $0.09 EPS. Payoneer Global's revenue for the quarter was up 8.8% compared to the same quarter last year. Sell-side analysts anticipate that Payoneer Global will post 0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Payoneer Global

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in shares of Payoneer Global by 34.0% during the fourth quarter. Bank of America Corp DE now owns 2,508,530 shares of the company's stock valued at $25,186,000 after purchasing an additional 636,473 shares during the last quarter. Deutsche Bank AG boosted its position in Payoneer Global by 252.8% in the 4th quarter. Deutsche Bank AG now owns 2,779,110 shares of the company's stock valued at $27,902,000 after buying an additional 1,991,449 shares during the last quarter. Graham Capital Management L.P. increased its stake in shares of Payoneer Global by 92.6% in the 4th quarter. Graham Capital Management L.P. now owns 51,285 shares of the company's stock valued at $515,000 after buying an additional 24,664 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Payoneer Global by 5.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 445,474 shares of the company's stock worth $4,473,000 after acquiring an additional 22,668 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Payoneer Global by 0.3% during the fourth quarter. Millennium Management LLC now owns 6,523,595 shares of the company's stock worth $65,497,000 after acquiring an additional 21,149 shares during the last quarter. 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.