Payoneer Global (NASDAQ:PAYO) Rating Lowered to Hold at Northland Securities

Key Points

• Northland Securities downgraded Payoneer Global from strong-buy to hold, adding to a mixed analyst picture around the stock. Overall, MarketBeat shows an average rating of Hold with a $7.40 price target.
• Payoneer recently reported better-than-expected quarterly results, posting EPS of $0.06 versus $0.04 expected and revenue of $261.6 million versus $255.1 million anticipated. Revenue also rose 6.1% year over year.
• Nuvei has agreed to acquire Payoneer for $7.40 per share in cash, giving investors a defined exit price and sparking deal-related attention. At the same time, several law firms are investigating whether shareholders are getting a fair price.

Payoneer Global (NASDAQ:PAYO - Get Free Report) was downgraded by equities research analysts at Northland Securities from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

PAYO has been the subject of several other reports. Keefe, Bruyette & Woods decreased their target price on Payoneer Global from $7.50 to $7.00 and set an "outperform" rating for the company in a research report on Friday, February 27th. Wall Street Zen raised shares of Payoneer Global from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Bank of America began coverage on shares of Payoneer Global in a report on Wednesday, March 25th. They set a "buy" rating and a $6.00 price objective for the company. William Blair reissued a "market perform" rating on shares of Payoneer Global in a research report on Monday. Finally, Citigroup downgraded shares of Payoneer Global from a "buy" rating to a "neutral" rating in a research note on Tuesday. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Payoneer Global presently has an average rating of "Hold" and an average price target of $7.40.

Payoneer Global Stock Performance

Shares of NASDAQ PAYO opened at $7.03 on Monday. The business's 50 day moving average price is $5.18 and its 200-day moving average price is $5.33. Payoneer Global has a fifty-two week low of $4.08 and a fifty-two week high of $7.66. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 0.72 and a beta of 1.02.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.02. The company had revenue of $261.60 million during the quarter, compared to analysts' expectations of $255.12 million. Payoneer Global had a return on equity of 11.10% and a net margin of 6.76%.Payoneer Global's revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.05 EPS. Sell-side analysts predict that Payoneer Global will post 0.27 earnings per share for the current year.

Hedge Funds Weigh In On Payoneer Global

Hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. raised its holdings in shares of Payoneer Global by 137.3% in the second quarter. Invesco Ltd. now owns 5,562,623 shares of the company's stock valued at $38,104,000 after acquiring an additional 3,218,917 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Payoneer Global by 2,061.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,013,014 shares of the company's stock worth $4,893,000 after acquiring an additional 966,146 shares in the last quarter. Marshall Wace LLP increased its position in Payoneer Global by 238.5% during the 4th quarter. Marshall Wace LLP now owns 1,362,962 shares of the company's stock valued at $7,660,000 after purchasing an additional 960,371 shares during the period. HRT Financial LP purchased a new position in Payoneer Global during the 4th quarter valued at about $4,912,000. Finally, Blue Owl Capital Holdings LP bought a new stake in shares of Payoneer Global in the 4th quarter valued at about $4,680,000. Institutional investors own 82.22% of the company's stock.

Payoneer Global News Summary

Here are the key news stories impacting Payoneer Global this week:

• Positive Sentiment: Nuvei agreed to buy Payoneer for $7.40 per share in cash, a premium that supports the stock and gives shareholders a clear exit value. Nuvei to Acquire Payoneer for $2.75 Billion, Creating a Leading Global Platform for Local and Cross-Border Commerce
• Positive Sentiment: The combined company is expected to create a major cross-border payments platform with roughly $3 billion in annual revenue and more than $500 billion in annual payment volume, which may be viewed favorably for the strategic rationale of the deal. Nuvei Inks $2.75 Billion Payoneer Acquisition to Supercharge Cross-Border Commerce
• Neutral Sentiment: William Blair reaffirmed its “market perform” rating on Payoneer, suggesting the broker view did not materially change despite the takeover announcement. Benzinga report on William Blair rating reaffirmation
• Negative Sentiment: Several law firms have launched investigations into whether Payoneer’s board obtained a fair price for shareholders, which could create headline risk and possible legal overhang around the deal. Shareholder Alert: Ademi LLP investigates whether Payoneer Global Inc. is obtaining a Fair Price for Public Shareholders

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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