Payoneer Global (NASDAQ:PAYO) Stock Price Down 8.2% – Time to Sell?

Payoneer Global Inc. (NASDAQ:PAYO) shares were down 8.2% during trading on Monday . The company traded as low as $4.99 and last traded at $4.9650. Approximately 2,089,688 shares were traded during trading, a decline of 51% from the average daily volume of 4,271,813 shares. The stock had previously closed at $5.41.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Payoneer Global from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Jefferies Financial Group set a $7.00 price target on shares of Payoneer Global in a research report on Wednesday, November 5th. Benchmark decreased their price objective on Payoneer Global from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, December 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Payoneer Global in a research note on Thursday, January 22nd. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Payoneer Global Stock Performance

The stock has a market capitalization of $1.76 billion, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 6.01 and a beta of 1.04. The stock has a 50-day simple moving average of $5.71 and a 200 day simple moving average of $6.00.

Institutional Investors Weigh In On Payoneer Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in shares of Payoneer Global by 299.7% in the 1st quarter. Royal Bank of Canada now owns 158,997 shares of the company’s stock valued at $1,162,000 after buying an additional 119,219 shares during the period. AQR Capital Management LLC lifted its holdings in Payoneer Global by 8.8% during the first quarter. AQR Capital Management LLC now owns 291,908 shares of the company’s stock worth $2,134,000 after acquiring an additional 23,533 shares in the last quarter. Caxton Associates LLP bought a new position in Payoneer Global during the first quarter worth about $172,000. United Services Automobile Association acquired a new position in Payoneer Global in the first quarter valued at about $126,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Payoneer Global by 5.9% in 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 acquiring an additional 41,970 shares in the last quarter. Institutional investors own 82.22% of the company’s stock.

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.