Payoneer Global (NASDAQ:PAYO) Shares Gap Down Following Weak Earnings

Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report) shares gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $7.13, but opened at $6.44. Payoneer Global shares last traded at $6.45, with a volume of 2,106,616 shares traded.

The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The business had revenue of $246.62 million for the quarter, compared to the consensus estimate of $244.52 million. During the same quarter in the previous year, the company earned $0.08 EPS. The firm's revenue for the quarter was up 8.1% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Needham & Company LLC lowered their price objective on Payoneer Global from $14.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft began coverage on Payoneer Global in a research report on Monday, February 3rd. They set a "buy" rating and a $13.00 price target for the company. Citigroup increased their price target on Payoneer Global from $14.50 to $16.50 and gave the company a "buy" rating in a research report on Tuesday, March 4th. The Goldman Sachs Group decreased their price target on Payoneer Global from $11.00 to $9.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods decreased their price target on Payoneer Global from $8.00 to $7.00 and set a "market perform" rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $11.36.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PAYO. Quarry LP bought a new stake in Payoneer Global during the 4th quarter valued at approximately $29,000. Farther Finance Advisors LLC purchased a new position in Payoneer Global in the 1st quarter worth approximately $25,000. Smartleaf Asset Management LLC raised its holdings in Payoneer Global by 405.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company's stock worth $38,000 after acquiring an additional 3,064 shares during the last quarter. Fifth Third Bancorp raised its holdings in Payoneer Global by 29.3% in the 4th quarter. Fifth Third Bancorp now owns 4,488 shares of the company's stock worth $45,000 after acquiring an additional 1,016 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in Payoneer Global by 420.6% in the 1st quarter. Versant Capital Management Inc now owns 5,034 shares of the company's stock worth $37,000 after acquiring an additional 4,067 shares during the last quarter. Hedge funds and other institutional investors own 82.22% of the company's stock.

Payoneer Global Trading Up 8.3%

The company has a market capitalization of $2.58 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 2.88 and a beta of 1.03. The business's fifty day moving average is $6.94 and its two-hundred day moving average is $9.06.

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.