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.

Payoneer Global (NASDAQ:PAYO - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Tuesday.

Other research analysts have also recently issued reports about the company. Needham & Company LLC increased their price target 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 began coverage on 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 increased their price target on Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Citigroup reiterated a "buy" rating and issued a $10.00 price target (down from $13.00) on shares of Payoneer Global in a research note on Thursday, May 22nd. Finally, Keefe, Bruyette & Woods upgraded Payoneer Global from a "market perform" rating to an "outperform" rating and increased their price target for the company from $7.00 to $9.00 in a research note on Tuesday, May 13th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $10.06.

Payoneer Global Price Performance

NASDAQ PAYO opened at $6.76 on Tuesday. The business has a fifty day moving average price of $6.77 and a two-hundred day moving average price of $6.97. Payoneer Global has a fifty-two week low of $5.71 and a fifty-two week high of $11.29. The stock has a market capitalization of $2.44 billion, a PE ratio of 26.00, a PEG ratio of 8.75 and a beta of 0.98.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Payoneer Global had a return on equity of 13.42% and a net margin of 9.81%.The business had revenue of $260.61 million for the quarter, compared to the consensus estimate of $253.17 million. During the same quarter in the previous year, the company earned $0.09 earnings per share. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. As a group, sell-side analysts expect that Payoneer Global will post 0.34 earnings per share for the current year.

Institutional Trading of Payoneer Global

A number of large investors have recently bought and sold shares of PAYO. Maryland State Retirement & Pension System boosted its stake in Payoneer Global by 2.2% during the 2nd quarter. Maryland State Retirement & Pension System now owns 76,528 shares of the company's stock valued at $524,000 after purchasing an additional 1,652 shares during the last quarter. Bank of Montreal Can boosted its stake in Payoneer Global by 4.4% during the 2nd quarter. Bank of Montreal Can now owns 40,713 shares of the company's stock valued at $279,000 after purchasing an additional 1,710 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Payoneer Global by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,016 shares of the company's stock worth $132,000 after buying an additional 1,808 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of Payoneer Global by 2.0% during the 2nd quarter. Yousif Capital Management LLC now owns 97,014 shares of the company's stock worth $665,000 after buying an additional 1,948 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Payoneer Global by 18.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 13,788 shares of the company's stock worth $94,000 after buying an additional 2,191 shares in the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

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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