Benchmark Issues Pessimistic Forecast for Payoneer Global (NASDAQ:PAYO) Stock Price

Payoneer Global (NASDAQ:PAYO) had its price target cut by analysts at Benchmark from $10.00 to $7.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price indicates a potential upside of 44.33% from the stock’s current price.

A number of other brokerages have also weighed in on PAYO. Wall Street Zen raised Payoneer Global from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Needham & Company LLC dropped their target price on Payoneer Global from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Keefe, Bruyette & Woods reduced their target price on Payoneer Global from $7.50 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Payoneer Global in a report on Thursday, January 22nd. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $8.00.

Payoneer Global Price Performance

Payoneer Global stock opened at $4.85 on Friday. The stock has a market capitalization of $1.73 billion, a P/E ratio of 25.53, a P/E/G ratio of 0.58 and a beta of 1.09. Payoneer Global has a 12-month low of $4.08 and a 12-month high of $8.27. The firm’s 50-day moving average is $5.53 and its two-hundred day moving average is $5.89.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings data 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). Payoneer Global had a net margin of 6.95% and a return on equity of 10.89%. The firm had revenue of $274.69 million during the quarter, compared to analyst estimates of $282.79 million. During the same period in the prior year, the firm earned $0.05 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, analysts forecast that Payoneer Global will post 0.34 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in Payoneer Global by 4.4% during the second quarter. Bank of Montreal Can now owns 40,713 shares of the company’s stock worth $279,000 after acquiring an additional 1,710 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Payoneer Global by 4.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 49,815 shares of the company’s stock worth $301,000 after purchasing an additional 1,949 shares during the period. Van ECK Associates Corp grew its holdings in shares of 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 purchasing an additional 1,977 shares during the period. Susquehanna International Group LLP increased its position 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 purchasing an additional 2,144 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in Payoneer Global by 4.1% in the fourth quarter. ProShare Advisors LLC now owns 54,909 shares of the company’s stock valued at $309,000 after buying an additional 2,145 shares during the period. Institutional investors and hedge funds 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.