Payoneer Global (NASDAQ:PAYO) Posts Earnings Results, Misses Expectations By $0.07 EPS

Key Points

• Payoneer Global missed earnings expectations: The company reported quarterly EPS of $(0.01), $0.07 below the $0.06 consensus, while revenue reached $274.26 million, beating estimates and increasing 5.2% year over year.
• Analysts have turned more cautious: Five firms recently downgraded the stock to “Hold” or “Neutral.” Payoneer now has one Buy and eight Hold ratings, with an average price target of $7.40.
• Shares remain near their 52-week high: PAYO traded around $7.10, compared with a 52-week range of $4.08 to $7.18. CFO Beatrice Ordonez also sold 25,000 shares under a pre-arranged Rule 10b5-1 plan.

Payoneer Global (NASDAQ:PAYO - Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.07), FiscalAI reports. The business had revenue of $274.26 million during the quarter, compared to the consensus estimate of $270.98 million. Payoneer Global had a net margin of 4.65% and a return on equity of 9.97%. Payoneer Global's revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.05 EPS.

Payoneer Global Price Performance

Shares of Payoneer Global stock traded down $0.01 during trading hours on Friday, reaching $7.10. The company had a trading volume of 3,933,240 shares, compared to its average volume of 4,280,772. The firm has a market cap of $2.38 billion, a PE ratio of 50.72, a price-to-earnings-growth ratio of 0.80 and a beta of 0.96. Payoneer Global has a one year low of $4.08 and a one year high of $7.18. The business has a fifty day simple moving average of $6.83 and a 200 day simple moving average of $5.72.

Analyst Upgrades and Downgrades

PAYO has been the subject of several analyst reports. Needham & Company LLC downgraded Payoneer Global from a "buy" rating to a "hold" rating in a research note on Monday, June 15th. Citigroup cut Payoneer Global from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $10.00 to $7.40 in a research note on Tuesday, June 16th. William Blair downgraded shares of Payoneer Global from an "outperform" rating to a "hold" rating in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft cut shares of Payoneer Global from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Keefe, Bruyette & Woods downgraded Payoneer Global from a "moderate buy" rating to a "hold" rating in a research note on Monday, June 15th. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Payoneer Global has an average rating of "Hold" and an average target price of $7.40.

Insider Activity

In other Payoneer Global news, CFO Beatrice Ordonez sold 25,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $7.01, for a total value of $175,250.00. Following the sale, the chief financial officer directly owned 2,887,266 shares in the company, valued at $20,239,734.66. This represents a 0.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.06% of the company's stock.

Institutional Investors Weigh In On Payoneer Global

A number of institutional investors and hedge funds have recently made changes to their positions in PAYO. Invesco Ltd. raised its stake in shares of Payoneer Global by 137.3% during the second quarter. Invesco Ltd. now owns 5,562,623 shares of the company's stock worth $38,104,000 after acquiring an additional 3,218,917 shares in the last quarter. Marshall Wace LLP boosted its position in Payoneer Global by 238.5% during the fourth quarter. Marshall Wace LLP now owns 1,362,962 shares of the company's stock valued at $7,660,000 after buying an additional 960,371 shares during the period. HRT Financial LP bought a new position in shares of Payoneer Global during the fourth quarter valued at about $4,912,000. Qube Research & Technologies Ltd grew its stake in shares of Payoneer Global by 113.6% during the second quarter. Qube Research & Technologies Ltd now owns 1,170,359 shares of the company's stock valued at $8,017,000 after buying an additional 622,397 shares during the last quarter. Finally, Picton Mahoney Asset Management purchased a new position in shares of Payoneer Global in the fourth quarter worth about $3,360,000. Hedge funds and other institutional investors own 82.22% of the company's stock.

About Payoneer Global

Payoneer Global NASDAQ: PAYO operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company's core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.

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