Payoneer Global Inc. (NASDAQ:PAYO) Short Interest Down 31.6% in May

Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report) was the target of a significant decline in short interest in the month of May. As of May 31st, there was short interest totalling 9,950,000 shares, a decline of 31.6% from the May 15th total of 14,540,000 shares. Based on an average daily trading volume, of 3,780,000 shares, the short-interest ratio is presently 2.6 days. Currently, 3.7% of the shares of the company are sold short.

Payoneer Global Trading Down 0.6%

PAYO traded down $0.04 during midday trading on Friday, hitting $6.49. 3,873,342 shares of the company traded hands, compared to its average volume of 3,214,244. The business has a 50 day simple moving average of $6.80 and a two-hundred day simple moving average of $8.43. Payoneer Global has a 52-week low of $5.03 and a 52-week high of $11.29. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 21.63 and a beta of 0.99.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). Payoneer Global had a return on equity of 15.70% and a net margin of 11.32%. The company had revenue of $246.62 million for the quarter, compared to analyst estimates of $244.52 million. During the same quarter last year, the company earned $0.08 EPS. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts anticipate that Payoneer Global will post 0.34 earnings per share for the current year.

Insider Transactions at Payoneer Global

In related news, Director Susanna Morgan sold 16,180 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $6.77, for a total value of $109,538.60. Following the transaction, the director now directly owns 80,902 shares of the company's stock, valued at $547,706.54. This represents a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.58% of the company's stock.

Hedge Funds Weigh In On Payoneer Global

Hedge funds and other institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC increased its position in shares of Payoneer Global by 31.7% during the first quarter. Voya Investment Management LLC now owns 787,697 shares of the company's stock worth $5,758,000 after purchasing an additional 189,509 shares in the last quarter. Strs Ohio acquired a new stake in Payoneer Global during the 1st quarter worth $812,000. Intech Investment Management LLC grew its holdings in shares of Payoneer Global by 44.0% during the first quarter. Intech Investment Management LLC now owns 306,202 shares of the company's stock worth $2,238,000 after buying an additional 93,524 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Payoneer Global by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 757,827 shares of the company's stock worth $5,540,000 after buying an additional 41,970 shares in the last quarter. Finally, United Services Automobile Association acquired a new stake in shares of Payoneer Global in the first quarter valued at about $126,000. Hedge funds and other institutional investors own 82.22% of the company's stock.

Wall Street Analysts Forecast Growth

PAYO has been the topic of a number of research reports. Citigroup reissued a "buy" rating and issued a $10.00 price objective (down from $13.00) on shares of Payoneer Global in a report on Thursday, May 22nd. The Goldman Sachs Group cut their price target on shares of Payoneer Global from $11.00 to $9.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Jefferies Financial Group lifted their price objective on shares of Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Needham & Company LLC reduced their target price on shares of Payoneer Global from $14.00 to $8.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Keefe, Bruyette & Woods raised Payoneer Global from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $7.00 to $9.00 in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $10.44.

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.