Payoneer Global (NASDAQ:PAYO) Sets New 52-Week High - Still a Buy?

Key Points

• Payoneer Global shares reached a new 52-week high of $7.18, with the stock trading near $7.19 and its market capitalization reaching approximately $2.43 billion.
• Analyst sentiment is cautious: one analyst rates PAYO a Buy while eight rate it Hold, producing an average Hold rating and a $7.40 price target.
• Payoneer’s latest quarter showed revenue rising 5.2% year over year to $274.26 million, above estimates, but EPS came in at a $0.01 loss versus expectations of $0.06 profit.

Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report)'s share price reached a new 52-week high during trading on Friday. The company traded as high as $7.18 and last traded at $7.1850, with a volume of 2171264 shares traded. The stock had previously closed at $7.13.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lowered shares of Payoneer Global from a "moderate buy" rating to a "hold" rating in a research report on Monday, June 15th. Weiss Ratings raised shares of Payoneer Global from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, September 1st. Northland Securities set a $7.40 price target on Payoneer Global in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft lowered Payoneer Global from a "buy" rating to a "hold" rating in a research note on Friday, August 7th. Finally, Needham & Company LLC cut Payoneer Global from a "buy" rating to a "hold" rating in a report on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Payoneer Global has an average rating of "Hold" and an average price target of $7.40.

Payoneer Global Stock Performance

The company has a market cap of $2.43 billion, a price-to-earnings ratio of 51.22, a price-to-earnings-growth ratio of 1.83 and a beta of 0.94. The stock's fifty day simple moving average is $7.12 and its two-hundred day simple moving average is $6.11.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) EPS 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 firm had revenue of $274.26 million for the quarter, compared to analyst estimates of $270.98 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. The company's quarterly revenue was up 5.2% on a year-over-year basis. Analysts predict that Payoneer Global Inc. will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Payoneer Global

Hedge funds and other institutional investors have recently modified their holdings of the company. Leonteq Securities AG increased its position in Payoneer Global by 72.0% during the 1st quarter. Leonteq Securities AG now owns 6,496 shares of the company's stock worth $31,000 after purchasing an additional 2,720 shares in the last quarter. Nykredit A S acquired a new position in Payoneer Global during the second quarter valued at approximately $39,000. GAMMA Investing LLC grew its stake in Payoneer Global by 73.8% during the second 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 period. Resonant Capital Advisors LLC purchased a new stake in Payoneer Global during the first quarter worth approximately $49,000. Finally, State of Wyoming purchased a new stake in Payoneer Global during the first quarter worth approximately $57,000. 82.22% of the stock is owned by institutional investors and hedge funds.

Payoneer Global Company Profile

Payoneer Global Inc NASDAQ: PAYO is a financial technology company that provides digital commerce and payment services to small and medium-sized businesses, marketplaces, freelancers and other organizations. Its platform is designed to help customers receive funds from international clients and marketplaces, make cross-border payments, manage business finances and access global commerce opportunities.

Payoneer's products and services include multi-currency receiving accounts, global payouts, supplier and business payments, payment cards, foreign-exchange services and working-capital solutions.

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