Payoneer Global (NASDAQ:PAYO) Upgraded to "Hold" at Wall Street Zen

Key Points

• Payoneer Global was upgraded from a "sell" rating to a "hold" rating by investment analysts at Wall Street Zen, indicating a shift in sentiment towards the stock.
• The stock currently has a consensus rating of "Moderate Buy," with a consensus price target of $10.06, following various upgrades including a price target increase from $8.00 to $10.00 by Needham & Company.
• Despite a revenue increase of 8.8% year-over-year, Payoneer Global's recent quarterly earnings of $0.05 per share fell short of analysts' expectations.

Payoneer Global (NASDAQ:PAYO - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Friday.

Other research analysts also recently issued reports about the company. Weiss Ratings reissued a "hold (c)" rating on shares of Payoneer Global in a research note on Saturday, September 27th. Deutsche Bank Aktiengesellschaft assumed coverage on Payoneer Global in a research note on Thursday, July 17th. They issued a "buy" rating and a $8.00 price objective on the stock. Finally, Needham & Company LLC raised their price objective on Payoneer Global from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.06.

Payoneer Global Stock Up 1.0%

Shares of PAYO traded up $0.06 during midday trading on Friday, reaching $6.13. 2,144,160 shares of the stock were exchanged, compared to its average volume of 3,191,249. Payoneer Global has a 12-month low of $5.71 and a 12-month high of $11.29. The firm has a 50 day simple moving average of $6.63 and a 200-day simple moving average of $6.77. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 23.58, a P/E/G ratio of 7.99 and a beta of 0.95.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted 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 return on equity of 13.42% and a net margin of 9.81%.The firm had revenue of $260.61 million for the quarter, compared to analysts' expectations of $253.17 million. During the same period last year, the business earned $0.09 earnings per share. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. Research analysts expect that Payoneer Global will post 0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC bought a new position in Payoneer Global in the 1st quarter worth approximately $25,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Payoneer Global during the 1st quarter worth approximately $34,000. Osaic Holdings Inc. increased its position in shares of Payoneer Global by 246.5% during the second quarter. Osaic Holdings Inc. now owns 4,636 shares of the company's stock valued at $33,000 after purchasing an additional 3,298 shares during the period. Versant Capital Management Inc increased its position in shares of Payoneer Global by 420.6% during the first quarter. Versant Capital Management Inc now owns 5,034 shares of the company's stock valued at $37,000 after purchasing an additional 4,067 shares during the period. Finally, IFP Advisors Inc increased its position in shares of Payoneer Global by 47,800.0% during the first quarter. IFP Advisors Inc now owns 6,227 shares of the company's stock valued at $46,000 after purchasing an additional 6,214 shares during the period. 82.22% of the stock is owned by institutional investors.

Payoneer Global Company Profile

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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