Payoneer Global (NASDAQ:PAYO) Shares Down 2.5% - What's Next?

Key Points

• Shares of Payoneer Global fell 2.5% in mid-day trading to about $5.05, trading as low as $4.95 with volume roughly 24% below the average session level.
• Analysts have trimmed price targets (e.g., Benchmark and Keefe, Bruyette & Woods cut targets to $7), but the consensus remains a “Moderate Buy” with an average target of $7.57.
• Payoneer missed quarterly expectations with EPS of $0.05 vs. a $0.06 consensus and revenue of $274.7M vs. $282.8M, though revenue rose 5% year-over-year and market cap is about $1.74B.

Shares of Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report) fell 2.5% during mid-day trading on Wednesday . The stock traded as low as $4.95 and last traded at $5.05. 3,091,735 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 4,072,592 shares. The stock had previously closed at $5.18.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PAYO shares. Benchmark reduced their price objective on shares of Payoneer Global from $10.00 to $7.00 and set a "buy" rating for the company in a research note on Friday, March 6th. Wall Street Zen lowered Payoneer Global from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. Weiss Ratings reiterated a "hold (c)" rating on shares of Payoneer Global in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods cut their price objective on Payoneer Global from $7.50 to $7.00 and set an "outperform" rating for the company in a report on Friday, February 27th. Finally, Bank of America initiated coverage on shares of Payoneer Global in a research note on Wednesday, March 25th. They issued a "buy" rating and a $6.00 target price for the company. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Payoneer Global presently has a consensus rating of "Moderate Buy" and an average target price of $7.57.

Payoneer Global Price Performance

The company has a market capitalization of $1.74 billion, a P/E ratio of 26.58, a price-to-earnings-growth ratio of 0.63 and a beta of 1.03. The company's 50-day moving average price is $4.85 and its two-hundred day moving average price is $5.42.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). Payoneer Global had a return on equity of 10.89% and a net margin of 6.95%.The firm had revenue of $274.69 million for the quarter, compared to the consensus estimate of $282.79 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The company's revenue was up 5.0% on a year-over-year basis. On average, analysts anticipate that Payoneer Global Inc. will post 0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Payoneer Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAYO. Invesco Ltd. grew its stake in 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 buying an additional 3,218,917 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Payoneer Global by 238.5% during the fourth quarter. Marshall Wace LLP now owns 1,362,962 shares of the company's stock worth $7,660,000 after buying an additional 960,371 shares during the last quarter. HRT Financial LP bought a new stake in Payoneer Global during the 4th quarter worth approximately $4,912,000. Blue Owl Capital Holdings LP acquired a new stake in Payoneer Global in the fourth quarter valued at $4,680,000. Finally, American Century Companies Inc. increased its stake in shares of Payoneer Global by 10.7% in the third quarter. American Century Companies Inc. now owns 7,326,825 shares of the company's stock valued at $44,327,000 after buying an additional 707,790 shares during the period. 82.22% of the stock is owned by institutional investors and hedge funds.

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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