Payoneer Global (NASDAQ:PAYO) Sets New 52-Week Low Following Analyst Downgrade

Shares of Payoneer Global Inc. (NASDAQ:PAYO) reached a new 52-week low during mid-day trading on Monday after Keefe, Bruyette & Woods lowered their price target on the stock from $7.50 to $7.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Payoneer Global traded as low as $4.08 and last traded at $4.4150, with a volume of 533380 shares trading hands. The stock had previously closed at $4.32.

A number of other analysts also recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Payoneer Global in a research note on Thursday, January 22nd. Jefferies Financial Group set a $7.00 target price on shares of Payoneer Global in a report on Wednesday, November 5th. Wall Street Zen raised Payoneer Global from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Needham & Company LLC cut their target price on Payoneer Global from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Benchmark decreased their price target on Payoneer Global from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, December 23rd. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $8.43.

Institutional Trading of Payoneer Global

A number of hedge funds have recently made changes to their positions in PAYO. Royal Bank of Canada grew its position in Payoneer Global by 299.7% during the first quarter. Royal Bank of Canada now owns 158,997 shares of the company’s stock valued at $1,162,000 after purchasing an additional 119,219 shares in the last quarter. AQR Capital Management LLC boosted its position in Payoneer Global by 8.8% during the first quarter. AQR Capital Management LLC now owns 291,908 shares of the company’s stock valued at $2,134,000 after purchasing an additional 23,533 shares during the last quarter. Caxton Associates LLP purchased a new position in Payoneer Global in the first quarter valued at about $172,000. United Services Automobile Association acquired a new position in Payoneer Global in the 1st quarter worth about $126,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Payoneer Global by 5.9% during the 1st 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 purchasing an additional 41,970 shares in the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.

Payoneer Global Trading Up 2.2%

The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 4.85 and a beta of 1.10. The company has a fifty day moving average price of $5.61 and a 200-day moving average price of $5.93.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $274.69 million for the quarter, compared to the consensus estimate of $282.79 million. Payoneer Global had a net margin of 6.95% and a return on equity of 10.89%. Payoneer Global’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.05 EPS. As a group, sell-side analysts predict that Payoneer Global Inc. will post 0.34 EPS for the current fiscal year.

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.