Payoneer Global (NASDAQ:PAYO) Shares Gap Down on Disappointing Earnings

Payoneer Global Inc. (NASDAQ:PAYO)’s stock price gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $5.24, but opened at $4.78. Payoneer Global shares last traded at $4.7150, with a volume of 1,525,139 shares trading hands.

The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Payoneer Global had a net margin of 6.96% and a return on equity of 10.71%. The firm had revenue of $274.69 million during the quarter, compared to analyst estimates of $282.79 million. During the same period last year, the business earned $0.05 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year.

Analyst Ratings Changes

A number of analysts have weighed in on PAYO shares. Wall Street Zen upgraded Payoneer Global from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Payoneer Global in a report on Thursday, January 22nd. Benchmark decreased their target price on Payoneer Global from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, December 23rd. Finally, Jefferies Financial Group set a $7.00 price target on Payoneer Global in a report on Wednesday, November 5th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Payoneer Global presently has an average rating of “Moderate Buy” and an average target price of $9.00.

Institutional Trading of Payoneer Global

Large investors have recently made changes to their positions in the company. Osaic Holdings Inc. grew its stake in Payoneer Global by 246.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock worth $33,000 after buying an additional 3,298 shares during the last quarter. CWM LLC boosted its holdings in shares of Payoneer Global by 178.6% in the fourth quarter. CWM LLC now owns 9,384 shares of the company’s stock valued at $53,000 after acquiring an additional 6,016 shares during the period. Vident Advisory LLC acquired a new stake in shares of Payoneer Global in the fourth quarter valued at approximately $58,000. Journey Strategic Wealth LLC purchased a new position in shares of Payoneer Global during the second quarter worth approximately $71,000. Finally, Quarry LP increased its holdings in shares of Payoneer Global by 9,273.2% in the 3rd quarter. Quarry LP now owns 10,498 shares of the company’s stock valued at $64,000 after acquiring an additional 10,386 shares during the period. 82.22% of the stock is owned by institutional investors and hedge funds.

Payoneer Global Stock Performance

The firm’s 50-day moving average is $5.67 and its 200 day moving average is $5.97. The stock has a market cap of $1.63 billion, a PE ratio of 24.03, a P/E/G ratio of 5.59 and a beta of 1.04.

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.