Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report) was the recipient of a large decrease in short interest in the month of August. As of August 15th, there was short interest totaling 8,170,000 shares, adecreaseof24.2% from the July 31st total of 10,780,000 shares. Based on an average daily volume of 2,940,000 shares, the short-interest ratio is presently 2.8 days. Currently,3.0% of the company's stock are sold short. Currently,3.0% of the company's stock are sold short. Based on an average daily volume of 2,940,000 shares, the short-interest ratio is presently 2.8 days.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of PAYO. Azora Capital LP acquired a new position in Payoneer Global during the 2nd quarter valued at approximately $30,996,000. Nuveen LLC acquired a new stake in shares of Payoneer Global in the first quarter worth $28,023,000. Vanguard Group Inc. increased its stake in shares of Payoneer Global by 12.1% in the first quarter. Vanguard Group Inc. now owns 33,881,608 shares of the company's stock worth $247,675,000 after acquiring an additional 3,656,056 shares during the period. Invesco Ltd. increased its stake in shares of Payoneer Global by 137.3% in the second quarter. Invesco Ltd. now owns 5,562,623 shares of the company's stock worth $38,104,000 after acquiring an additional 3,218,917 shares during the period. Finally, Greenvale Capital LLP acquired a new stake in shares of Payoneer Global in the second quarter worth $14,472,000. Institutional investors and hedge funds own 82.22% of the company's stock.
Wall Street Analysts Forecast Growth
PAYO has been the subject of several research reports. Jefferies Financial Group upped their price target on shares of Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Citigroup reaffirmed a "buy" rating and issued a $10.00 price target (down previously from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Payoneer Global in a research report on Thursday, July 17th. They issued a "buy" rating and a $8.00 price target for the company. Wall Street Zen upgraded shares of Payoneer Global from a "sell" rating to a "hold" rating in a research note on Monday, September 1st. Finally, Needham & Company LLC boosted their price objective on shares of Payoneer Global from $8.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Payoneer Global currently has an average rating of "Moderate Buy" and an average target price of $10.06.
Get Our Latest Stock Analysis on Payoneer Global
Payoneer Global Trading Down 0.7%
Shares of Payoneer Global stock opened at $6.65 on Monday. Payoneer Global has a 12-month low of $5.71 and a 12-month high of $11.29. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 8.75 and a beta of 0.98. The firm's 50 day simple moving average is $6.77 and its two-hundred day simple moving average is $6.99.
Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. 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 net margin of 9.81% and a return on equity of 13.42%. The company had revenue of $260.61 million for the quarter, compared to analyst estimates of $253.17 million. During the same quarter in the previous year, the company posted $0.09 EPS. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. On average, sell-side analysts predict that Payoneer Global will post 0.34 EPS for the current fiscal year.
Payoneer Global Company Profile
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Get Free Report)
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.
Further Reading
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