Coatue Management LLC Takes $12.44 Million Position in Payoneer Global Inc. (NASDAQ:PAYO)

Coatue Management LLC purchased a new stake in Payoneer Global Inc. (NASDAQ:PAYO) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,200,000 shares of the company’s stock, valued at approximately $12,444,000. Coatue Management LLC owned approximately 4.42% of Payoneer Global as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new stake in shares of Payoneer Global in the 2nd quarter valued at about $39,660,000. FMR LLC acquired a new stake in Payoneer Global in the 2nd quarter worth approximately $32,578,000. Jennison Associates LLC acquired a new stake in Payoneer Global in the 2nd quarter worth approximately $16,824,000. Winslow Capital Management LLC acquired a new stake in Payoneer Global in the 2nd quarter worth approximately $15,135,000. Finally, Neuberger Berman Group LLC acquired a new stake in Payoneer Global in the 2nd quarter worth approximately $13,287,000. Institutional investors and hedge funds own 45.29% of the company’s stock.

NASDAQ PAYO traded up $0.15 on Thursday, hitting $8.61. 36,618 shares of the company’s stock traded hands, compared to its average volume of 2,255,991. Payoneer Global Inc. has a 1-year low of $8.02 and a 1-year high of $11.20. The stock’s 50-day moving average price is $9.47.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Wednesday, August 11th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.74). The business had revenue of $110.93 million for the quarter, compared to analyst estimates of $102.94 million. Sell-side analysts forecast that Payoneer Global Inc. will post -0.58 earnings per share for the current fiscal year.

A number of analysts recently commented on PAYO shares. Zacks Investment Research upgraded shares of Payoneer Global from a “sell” rating to a “hold” rating in a research note on Wednesday, September 29th. The Goldman Sachs Group started coverage on shares of Payoneer Global in a research note on Friday, July 23rd. They issued a “neutral” rating and a $11.50 target price for the company. Citigroup started coverage on shares of Payoneer Global in a research note on Friday, September 24th. They issued a “buy” rating and a $12.50 target price for the company. William Blair assumed coverage on shares of Payoneer Global in a research note on Tuesday, August 3rd. They issued an “outperform” rating for the company. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Payoneer Global in a research note on Wednesday, July 21st. They set an “outperform” rating and a $14.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $12.80.

About Payoneer Global

Payoneer Inc operates a cross-border payment and commerce-enabling platform that facilitates digital businesses, online sellers, and freelancers worldwide to receive and manage their international payments. The company delivers a suite of services that includes cross-border payments, working capital, tax solutions, merchant services, and risk management.

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Institutional Ownership by Quarter for Payoneer Global (NASDAQ:PAYO)

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