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

Bank of America started coverage on shares of Payoneer Global (NASDAQ:PAYO) in a research report report published on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $6.00 target price on the stock.

Several other analysts have also recently commented on the company. Benchmark lowered their price target on Payoneer Global from $10.00 to $7.00 and set a “buy” rating for the company in a report on Friday, March 6th. Keefe, Bruyette & Woods decreased their target price on shares of Payoneer Global from $7.50 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Needham & Company LLC lowered their target price on shares of Payoneer Global from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Wall Street Zen raised shares of Payoneer Global from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Payoneer Global in a research note on Thursday, January 22nd. Eight 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.75.

Payoneer Global Stock Up 3.4%

Shares of Payoneer Global stock opened at $4.89 on Wednesday. Payoneer Global has a fifty-two week low of $4.08 and a fifty-two week high of $7.83. The firm has a market cap of $1.69 billion, a PE ratio of 25.74, a P/E/G ratio of 0.58 and a beta of 1.09. The business’s fifty day moving average is $5.29 and its two-hundred day moving average is $5.67.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $274.69 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. Equities research analysts anticipate that Payoneer Global will post 0.34 EPS for the current year.

Hedge Funds Weigh In On Payoneer Global

A number of institutional investors and hedge funds have recently bought and sold shares of PAYO. Nisa Investment Advisors LLC raised its holdings in Payoneer Global by 4.1% in the third quarter. Nisa Investment Advisors LLC now owns 49,815 shares of the company’s stock valued at $301,000 after acquiring an additional 1,949 shares in the last quarter. Van ECK Associates Corp grew its holdings in Payoneer Global by 2.4% during the 4th quarter. Van ECK Associates Corp now owns 84,678 shares of the company’s stock worth $476,000 after acquiring an additional 1,977 shares in the last quarter. Susquehanna International Group LLP grew its holdings in Payoneer Global by 9.5% during the 3rd quarter. Susquehanna International Group LLP now owns 24,637 shares of the company’s stock worth $149,000 after acquiring an additional 2,144 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Payoneer Global by 4.1% in the 4th quarter. ProShare Advisors LLC now owns 54,909 shares of the company’s stock worth $309,000 after purchasing an additional 2,145 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Payoneer Global by 18.9% in the 2nd quarter. Advisors Asset Management Inc. now owns 13,788 shares of the company’s stock valued at $94,000 after purchasing an additional 2,191 shares in the last quarter. Hedge funds and other 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.