Short Interest in Payoneer Global Inc. (NASDAQ:PAYO) Decreases By 31.6%

Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report) was the target of a significant decline in short interest in 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 trading volume of 3,780,000 shares, the short-interest ratio is currently 2.6 days. Approximately 3.7% of the company's stock are short sold.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Needham & Company LLC decreased their price objective 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. Jefferies Financial Group boosted their price objective on shares of Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a report on Tuesday, May 27th. The Goldman Sachs Group decreased their price objective on shares of Payoneer Global from $11.00 to $9.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods upgraded shares of Payoneer Global from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $7.00 to $9.00 in a research report on Tuesday, May 13th. Finally, Citigroup restated a "buy" rating and set a $10.00 target price (down from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Payoneer Global currently has a consensus rating of "Buy" and an average target price of $10.44.

Payoneer Global Price Performance

Shares of NASDAQ PAYO opened at $6.64 on Tuesday. The firm has a fifty day moving average price of $6.79 and a 200-day moving average price of $8.48. The stock has a market cap of $2.40 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 2.88 and a beta of 0.99. Payoneer Global has a 1 year low of $5.03 and a 1 year high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). The firm had revenue of $246.62 million during the quarter, compared to analysts' expectations of $244.52 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The business's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company earned $0.08 earnings per share. On average, research analysts expect that Payoneer Global will post 0.34 EPS for the current year.

Insider Buying and Selling

In other Payoneer Global news, Director Susanna Morgan sold 16,180 shares of Payoneer Global stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $6.77, for a total value of $109,538.60. Following the completion of the transaction, the director now directly owns 80,902 shares of the company's stock, valued at approximately $547,706.54. The trade was a 16.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.58% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Payoneer Global

Several institutional investors have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd bought a new position in Payoneer Global during the fourth quarter valued at $1,276,000. Allspring Global Investments Holdings LLC lifted its position in Payoneer Global by 133.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 97,538 shares of the company's stock valued at $990,000 after purchasing an additional 55,766 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in Payoneer Global during the fourth quarter valued at $1,809,000. Charles Schwab Investment Management Inc. lifted its position in Payoneer Global by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,428,185 shares of the company's stock valued at $24,379,000 after purchasing an additional 91,029 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Payoneer Global by 16.6% during the fourth quarter. Invesco Ltd. now owns 991,268 shares of the company's stock valued at $9,952,000 after purchasing an additional 141,376 shares during the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.

About Payoneer Global

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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