Payoneer Global (NASDAQ:PAYO) Reaches New 1-Year High - Here's Why

Key Points

• Payoneer Global shares reached a 52-week high, trading as high as $7.21, compared with a previous close of $7.16.
• Analyst sentiment remains cautious: the consensus rating is Hold from one Buy and eight Hold ratings, with a consensus price target of $7.40.
• In its latest reported quarter, revenue rose 5.2% year over year to $274.26 million, beating estimates, while EPS was a $0.01 loss versus the expected $0.06 profit.

Shares of Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $7.21 and last traded at $7.2150, with a volume of 1,615,290 shares traded. The stock had previously closed at $7.16.

Analyst Ratings Changes

Several research firms recently issued reports on PAYO. Weiss Ratings upgraded Payoneer Global from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft downgraded Payoneer Global from a "buy" rating to a "hold" rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Payoneer Global currently has a consensus rating of "Hold" and a consensus price target of $7.40.

Payoneer Global Stock Performance

The business has a 50-day moving average price of $7.14 and a 200-day moving average price of $6.15. The stock has a market cap of $2.43 billion, a PE ratio of 51.15, a price-to-earnings-growth ratio of 1.83 and a beta of 0.97.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.07). Payoneer Global had a return on equity of 9.97% and a net margin of 4.65%. The company had revenue of $274.26 million for the quarter, compared to analyst estimates of $270.98 million. During the same period last year, the company earned $0.05 earnings per share. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts expect that Payoneer Global Inc. will post 0.16 earnings per share for the current year.

Institutional Investors Weigh In On Payoneer Global

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in Payoneer Global by 73.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,777 shares of the company's stock worth $41,000 after buying an additional 2,453 shares during the last quarter. Leonteq Securities AG raised its stake in Payoneer Global by 72.0% in the first quarter. Leonteq Securities AG now owns 6,496 shares of the company's stock valued at $31,000 after buying an additional 2,720 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in Payoneer Global by 24.0% in the second quarter. Integrated Wealth Concepts LLC now owns 14,889 shares of the company's stock valued at $106,000 after buying an additional 2,882 shares during the last quarter. Nykredit A S acquired a new stake in Payoneer Global in the second quarter worth about $39,000. Finally, Royal Bank of Canada boosted its holdings in Payoneer Global by 7.3% in the first quarter. Royal Bank of Canada now owns 96,269 shares of the company's stock worth $465,000 after acquiring an additional 6,532 shares in the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Payoneer Global Company Profile

Payoneer Global Inc NASDAQ: PAYO operates a global financial technology platform that helps businesses, online marketplaces, freelancers and other professionals send, receive and manage payments across borders. Its services are designed to support companies that operate internationally, including small and medium-sized businesses and digital commerce participants.

The company provides multi-currency receiving accounts, cross-border payouts, supplier and contractor payments, currency conversion and other business payment tools.

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