Payoneer Global (NASDAQ:PAYO) Rating Lowered to Hold at Keefe, Bruyette & Woods

Payoneer Global (NASDAQ:PAYO) was downgraded by equities research analysts at Keefe, Bruyette & Woods from a “moderate buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research firms also recently weighed in on PAYO. Bank of America started coverage on Payoneer Global in a research report on Wednesday, March 25th. They set a “buy” rating and a $6.00 price target for the company. Benchmark reiterated a “buy” rating and issued a $9.00 target price on shares of Payoneer Global in a report on Wednesday, June 10th. Weiss Ratings upgraded Payoneer Global from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $7.40 target price on shares of Payoneer Global in a report on Tuesday. Finally, Northland Securities set a $7.40 target price on Payoneer Global in a report on Monday. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.40.

Payoneer Global Stock Performance

Payoneer Global stock opened at $7.02 on Monday. The stock has a fifty day moving average of $5.22 and a two-hundred day moving average of $5.34. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 35.10, a PEG ratio of 0.75 and a beta of 1.02. Payoneer Global has a fifty-two week low of $4.08 and a fifty-two week high of $7.66.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $261.60 million during the quarter, compared to the consensus estimate of $255.12 million. Payoneer Global had a return on equity of 11.10% and a net margin of 6.76%.Payoneer Global’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 earnings per share. On average, analysts forecast that Payoneer Global will post 0.27 EPS for the current fiscal year.

Insider Activity at Payoneer Global

In related news, CFO Beatrice Ordonez sold 25,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $7.01, for a total value of $175,250.00. Following the transaction, the chief financial officer owned 2,887,266 shares in the company, valued at approximately $20,239,734.66. The trade was a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.06% of the company’s stock.

Institutional Trading of Payoneer Global

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its holdings in Payoneer Global by 1.8% in the fourth quarter. State Street Corp now owns 10,772,088 shares of the company’s stock valued at $60,539,000 after buying an additional 195,410 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Payoneer Global by 1.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,436,470 shares of the company’s stock valued at $58,654,000 after purchasing an additional 182,614 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Payoneer Global by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 7,544,420 shares of the company’s stock valued at $36,438,000 after purchasing an additional 263,030 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Payoneer Global by 10.7% during the third quarter. American Century Companies Inc. now owns 7,326,825 shares of the company’s stock valued at $44,327,000 after purchasing an additional 707,790 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Payoneer Global by 137.3% during the second quarter. Invesco Ltd. now owns 5,562,623 shares of the company’s stock valued at $38,104,000 after purchasing an additional 3,218,917 shares during the last quarter. 82.22% of the stock is owned by institutional investors.

Key Payoneer Global News

Here are the key news stories impacting Payoneer Global this week:

• Positive Sentiment: Nuvei announced a definitive agreement to acquire Payoneer Global Inc. for $7.40 per share in cash, creating a larger global payments platform with expected annual revenue of about $3 billion at closing. Nuvei to Acquire Payoneer for $2.75 Billion, Creating a Leading Global Platform for Local and Cross-Border Commerce
• Positive Sentiment: Multiple reports highlighted that Payoneer’s shares jumped on the acquisition news, reflecting investor enthusiasm for the deal premium and the possibility of a near-term exit at the agreed cash price. Stock Market Today, June 15: Payoneer Global Jumps After Nuvei Agrees to Acquire Company for $2.75 Billion
• Neutral Sentiment: Payoneer’s CFO, Beatrice Ordonez, sold 25,000 shares under a pre-arranged 10b5-1 trading plan. The filing is routine and does not necessarily signal a change in fundamentals, but it is a headline investors may notice. Payoneer CFO Beatrice Ordonez Insider Trade
• Negative Sentiment: Several law firms announced investigations into whether Payoneer shareholders are getting a fair price in the transaction, which could add legal noise and create some uncertainty around the deal process. Shareholder Alert: Ademi LLP Investigates Whether Payoneer Global Inc. is Obtaining a Fair Price for Public Shareholders

Payoneer Global Company Profile

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.