Wall Street Zen Upgrades Payoneer Global (NASDAQ:PAYO) to "Hold"

Key Points

• Wall Street Zen has upgraded Payoneer Global (NASDAQ: PAYO) from a "sell" rating to a "hold" rating.
• Several research analysts have set new price targets for Payoneer, with Jefferies raising theirs to $8.50 and Needham to $10.00, maintaining a "buy" rating.
• Payoneer Global reported a quarterly revenue of $260.61 million, exceeding estimates, but missed earnings per share expectations by $0.01.

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

Several other research analysts also recently commented on PAYO. 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 research report on Tuesday, May 27th. Needham & Company LLC boosted their price objective on shares of Payoneer Global from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Payoneer Global in a research report on Thursday, July 17th. They set a "buy" rating and a $8.00 price objective for the company. Citigroup restated a "buy" rating and set a $10.00 price objective (down from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. Finally, Keefe, Bruyette & Woods upgraded shares of Payoneer Global from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $7.00 to $9.00 in a research report on Tuesday, May 13th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.06.

Payoneer Global Trading Up 1.0%

Shares of PAYO stock opened at $6.95 on Monday. The stock has a market cap of $2.50 billion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 9.15 and a beta of 0.98. The stock has a 50 day simple moving average of $6.77 and a 200 day simple moving average of $7.12. Payoneer Global has a 1 year low of $5.71 and a 1 year high of $11.29.

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 the consensus estimate of $0.06 by ($0.01). The company had revenue of $260.61 million during the quarter, compared to the consensus estimate of $253.17 million. Payoneer Global had a net margin of 9.81% and a return on equity of 13.42%. The company's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 earnings per share. Analysts forecast that Payoneer Global will post 0.34 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its holdings in shares of Payoneer Global by 2.8% during the first quarter. Principal Financial Group Inc. now owns 1,593,475 shares of the company's stock worth $11,648,000 after buying an additional 44,087 shares in the last quarter. Aspen Capital Management LLC acquired a new position in shares of Payoneer Global during the first quarter worth $1,420,000. SG Americas Securities LLC increased its holdings in shares of Payoneer Global by 2,262.5% during the first quarter. SG Americas Securities LLC now owns 1,215,581 shares of the company's stock worth $8,886,000 after buying an additional 1,164,128 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Payoneer Global by 559.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,480 shares of the company's stock worth $62,000 after buying an additional 7,195 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Payoneer Global by 50.1% during the first quarter. Victory Capital Management Inc. now owns 4,395,656 shares of the company's stock worth $32,132,000 after buying an additional 1,467,357 shares in the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

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.

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