Payoneer Global (NASDAQ:PAYO) Rating Lowered to “Sell” at Wall Street Zen

Payoneer Global (NASDAQ:PAYO) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other brokerages have also weighed in on PAYO. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Payoneer Global in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods decreased their price objective on shares of Payoneer Global from $7.50 to $7.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Needham & Company LLC lowered their price objective on shares of Payoneer Global from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Finally, Benchmark dropped their target price on shares of Payoneer Global from $10.00 to $7.00 and set a “buy” rating for the company in a report on Friday. 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.00.

Payoneer Global Stock Down 3.1%

NASDAQ:PAYO opened at $4.70 on Friday. Payoneer Global has a 52 week low of $4.08 and a 52 week high of $7.97. The stock’s fifty day moving average is $5.51 and its two-hundred day moving average is $5.87. The company has a market capitalization of $1.68 billion, a P/E ratio of 24.74, a P/E/G ratio of 0.59 and a beta of 1.09.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business 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 business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.05 earnings per share. Sell-side analysts anticipate that Payoneer Global will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of Payoneer Global

Institutional investors and hedge funds have recently bought and sold shares of the business. Azora Capital LP purchased a new stake in Payoneer Global during the 2nd quarter worth approximately $30,996,000. Invesco Ltd. boosted its position in Payoneer Global by 137.3% in the 2nd quarter. Invesco Ltd. now owns 5,562,623 shares of the company’s stock valued at $38,104,000 after buying an additional 3,218,917 shares during the period. Greenvale Capital LLP acquired a new position in shares of Payoneer Global in the second quarter worth $14,472,000. Marshall Wace LLP increased its position in shares of Payoneer Global by 238.5% during the fourth quarter. Marshall Wace LLP now owns 1,362,962 shares of the company’s stock worth $7,660,000 after acquiring an additional 960,371 shares during the period. Finally, HRT Financial LP purchased a new stake in shares of Payoneer Global during the fourth quarter worth $4,912,000. 82.22% of the stock is currently owned by hedge funds and other institutional investors.

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.