Payoneer Global (NASDAQ:PAYO) Coverage Initiated by Analysts at Bank of America

Stock analysts at Bank of America began coverage on shares of Payoneer Global (NASDAQ:PAYO) in a research note issued on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $6.00 price target on the stock. Bank of America‘s price objective would indicate a potential upside of 26.85% from the company’s previous close.

PAYO has been the topic of several other research reports. Wall Street Zen upgraded Payoneer Global from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Needham & Company LLC decreased their price target on Payoneer Global from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Weiss Ratings restated a “hold (c)” rating on shares of Payoneer Global in a research note on Thursday, January 22nd. Benchmark cut their price objective on Payoneer Global from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Finally, Keefe, Bruyette & Woods cut their price objective on Payoneer Global from $7.50 to $7.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Payoneer Global presently has a consensus rating of “Moderate Buy” and an average target price of $7.75.

Payoneer Global Stock Down 1.3%

Shares of NASDAQ:PAYO opened at $4.73 on Wednesday. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 0.59 and a beta of 1.09. The firm’s 50-day simple moving average is $5.30 and its 200-day simple moving average is $5.68. Payoneer Global has a fifty-two week low of $4.08 and a fifty-two week high of $7.97.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $274.69 million for 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%.The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 earnings per share. On average, research analysts forecast that Payoneer Global will post 0.34 EPS for the current year.

Institutional Investors Weigh In On Payoneer Global

A number of institutional investors and hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. increased its stake in Payoneer Global by 246.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock valued at $33,000 after purchasing an additional 3,298 shares in the last quarter. CWM LLC boosted 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 in the last quarter. Vident Advisory LLC purchased a new stake in Payoneer Global during the fourth quarter worth $58,000. Journey Strategic Wealth LLC acquired a new stake in Payoneer Global in the second quarter valued at $71,000. Finally, Quarry LP grew its holdings in Payoneer Global by 9,273.2% in the third quarter. Quarry LP now owns 10,498 shares of the company’s stock valued at $64,000 after purchasing an additional 10,386 shares during the last quarter. 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.