Payoneer Global (NASDAQ:PAYO) Reaches New 52-Week Low - Should You Sell?

Key Points

• Payoneer Global's stock hit a 52-week low of $5.69, marking a significant drop from its previous close of $5.85, with over 740,000 shares traded.
• Analysts from various research firms have shown mixed sentiments, with one upgrading the stock to a "hold" and others setting target prices ranging from $8.00 to $10.00.
• Despite missing earnings estimates with $0.05 per share, Payoneer reported a revenue increase of 8.8% year-over-year, totaling $260.61 million for the quarter.

Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report)'s stock price reached a new 52-week low on Monday . The company traded as low as $5.69 and last traded at $5.80, with a volume of 740575 shares changing hands. The stock had previously closed at $5.85.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PAYO shares. Wall Street Zen raised Payoneer Global from a "sell" rating to a "hold" rating in a research report on Friday, October 3rd. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price objective on shares of Payoneer Global in a report on Monday, October 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Payoneer Global in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Payoneer Global in a research report on Thursday, July 17th. They set a "buy" rating and a $8.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $10.06.

Payoneer Global Stock Performance

The stock has a fifty day moving average price of $6.58 and a 200-day moving average price of $6.70. The firm has a market cap of $2.09 billion, a PE ratio of 22.34, a PEG ratio of 7.70 and a beta of 0.95.

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

Institutional Investors Weigh In On Payoneer Global

A number of large investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its holdings in Payoneer Global by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 1,593,475 shares of the company's stock valued at $11,648,000 after purchasing an additional 44,087 shares in the last quarter. Invesco Ltd. boosted its position in Payoneer Global by 136.4% in the 1st quarter. Invesco Ltd. now owns 2,343,706 shares of the company's stock valued at $17,132,000 after buying an additional 1,352,438 shares during the last quarter. Millennium Management LLC grew its stake in shares of Payoneer Global by 15.5% during the first quarter. Millennium Management LLC now owns 7,537,691 shares of the company's stock valued at $55,101,000 after acquiring an additional 1,014,096 shares in the last quarter. Aspen Capital Management LLC purchased a new stake in shares of Payoneer Global during the first quarter worth about $1,420,000. Finally, Strs Ohio acquired a new position in shares of Payoneer Global in the first quarter worth about $812,000. Institutional investors and hedge funds 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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