Payoneer Global (NASDAQ:PAYO) Sets New 1-Year Low After Analyst Downgrade

Shares of Payoneer Global Inc. (NASDAQ:PAYO) reached a new 52-week low 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 traded. The stock had previously closed at $4.32.

PAYO has been the subject of several other reports. Benchmark decreased their price objective on Payoneer Global from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, December 23rd. Wall Street Zen raised shares of Payoneer Global from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of Payoneer Global in a report on Thursday, January 22nd. Jefferies Financial Group set a $7.00 price objective on shares of Payoneer Global in a research note on Wednesday, November 5th. Finally, Needham & Company LLC dropped 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, February 26th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Payoneer Global presently has an average rating of “Moderate Buy” and an average price target of $8.43.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in Payoneer Global by 299.7% in the first 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 last quarter. AQR Capital Management LLC increased its holdings in shares of 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 acquiring an additional 23,533 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Payoneer Global during the first quarter valued at about $172,000. United Services Automobile Association purchased a new position in shares of Payoneer Global in the 1st quarter valued at approximately $126,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Payoneer Global by 5.9% in 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 institutional investors and hedge funds.

Payoneer Global Trading Up 0.2%

The company has a market cap of $1.64 billion, a PE ratio of 24.16, a P/E/G ratio of 5.33 and a beta of 1.09. The firm’s 50-day simple moving average is $5.56 and its two-hundred day simple moving average is $5.90.

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 analysts’ consensus estimates of $0.06 by ($0.01). Payoneer Global had a return on equity of 10.89% and a net margin of 6.95%.The company had revenue of $274.69 million during the quarter, compared to analysts’ expectations of $282.79 million. During the same period in the prior year, the business posted $0.05 EPS. The company’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, analysts predict that Payoneer Global Inc. will post 0.34 EPS for the current 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.