Wall Street Zen Downgrades Payoneer Global (NASDAQ:PAYO) to Sell

Key Points

• Wall Street Zen downgraded Payoneer Global (NASDAQ:PAYO) from a "hold" to a "sell" in a report issued Saturday.
• Despite that downgrade, seven analysts still rate the stock a Buy and one rates it Hold, leaving a consensus of "Moderate Buy" with an average price target of $8.00 after several firms trimmed targets to $7–$8.
• Payoneer missed quarterly estimates with $0.05 EPS versus $0.06 expected and $274.7M revenue vs. $282.8M expected; the stock trades near $4.70, with a 1‑year range of $4.08–$7.97 and a market cap of about $1.68B.

Payoneer Global (NASDAQ:PAYO - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

A number of other research analysts have also weighed in on PAYO. Needham & Company LLC decreased their price target on shares of Payoneer Global from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Benchmark reduced their target price on Payoneer Global from $10.00 to $7.00 and set a "buy" rating for the company in a report on Friday. Keefe, Bruyette & Woods decreased their target price on Payoneer Global from $7.50 to $7.00 and set an "outperform" rating on the stock in a research report on Friday, February 27th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Payoneer Global in a research report on Thursday, January 22nd. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $8.00.

Payoneer Global Price Performance

Shares of NASDAQ:PAYO opened at $4.70 on Friday. The business's 50 day moving average price is $5.51 and its 200-day moving average price is $5.87. Payoneer Global has a 1 year low of $4.08 and a 1 year high of $7.97. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 0.59 and a beta of 1.09.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $274.69 million during the quarter, compared to analysts' expectations of $282.79 million. Payoneer Global had a return on equity of 10.89% and a net margin of 6.95%.Payoneer Global's revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 EPS. On average, sell-side analysts expect that Payoneer Global will post 0.34 earnings per share for the current year.

Hedge Funds Weigh In On Payoneer Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PAYO. Osaic Holdings Inc. raised its holdings in shares of Payoneer Global by 246.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company's stock worth $33,000 after acquiring an additional 3,298 shares during the period. CWM LLC increased its position in Payoneer Global by 178.6% during the fourth quarter. CWM LLC now owns 9,384 shares of the company's stock worth $53,000 after purchasing an additional 6,016 shares during the last quarter. Vident Advisory LLC purchased a new position in Payoneer Global during the fourth quarter worth about $58,000. Empowered Funds LLC acquired a new position in Payoneer Global in the 4th quarter valued at about $63,000. Finally, Quarry LP grew its stake in shares of Payoneer Global by 9,273.2% in the 3rd quarter. Quarry LP now owns 10,498 shares of the company's stock valued at $64,000 after buying an additional 10,386 shares during the period. Institutional investors and hedge funds own 82.22% of the company's stock.

About Payoneer Global

Payoneer Global NASDAQ: PAYO operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company's core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.

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