Payoneer Global (NASDAQ:PAYO) Stock Price Down 4.9% After Analyst Downgrade

Payoneer Global Inc. (NASDAQ:PAYO)’s stock price dropped 4.9% on Tuesday after Benchmark lowered their price target on the stock from $12.00 to $10.00. Benchmark currently has a buy rating on the stock. Payoneer Global traded as low as $5.49 and last traded at $5.4950. Approximately 440,982 shares changed hands during trading, a decline of 86% from the average daily volume of 3,224,341 shares. The stock had previously closed at $5.78.

PAYO has been the subject of several other reports. Jefferies Financial Group set a $7.00 price objective on shares of Payoneer Global in a report on Wednesday, November 5th. Wall Street Zen raised Payoneer Global from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of Payoneer Global in a research note on Monday, October 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Payoneer Global in a report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Hedge Funds Weigh In On Payoneer Global

Several large investors have recently made changes to their positions in the business. Maryland State Retirement & Pension System raised its position in Payoneer Global by 2.2% in the 2nd quarter. Maryland State Retirement & Pension System now owns 76,528 shares of the company’s stock worth $524,000 after buying an additional 1,652 shares during the last quarter. Bank of Montreal Can raised its holdings in Payoneer Global by 4.4% in the 2nd quarter. Bank of Montreal Can now owns 40,713 shares of the company’s stock worth $279,000 after purchasing an additional 1,710 shares during the period. Yousif Capital Management LLC lifted its position in shares of Payoneer Global by 2.0% during the 2nd quarter. Yousif Capital Management LLC now owns 97,014 shares of the company’s stock valued at $665,000 after buying an additional 1,948 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Payoneer Global by 4.1% during the third quarter. Nisa Investment Advisors LLC now owns 49,815 shares of the company’s stock valued at $301,000 after purchasing an additional 1,949 shares in the last quarter. Finally, Susquehanna International Group LLP boosted its holdings in Payoneer Global by 9.5% in the 3rd quarter. Susquehanna International Group LLP now owns 24,637 shares of the company’s stock worth $149,000 after buying an additional 2,144 shares during the period. 82.22% of the stock is currently owned by hedge funds and other institutional investors.

Payoneer Global Price Performance

The stock has a market cap of $1.96 billion, a PE ratio of 28.92, a PEG ratio of 7.85 and a beta of 1.00. The firm has a 50-day moving average of $5.75 and a 200-day moving average of $6.33.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $270.85 million for the quarter, compared to analysts’ expectations of $262.66 million. Payoneer Global had a return on equity of 10.71% and a net margin of 6.96%.The firm’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the company earned $0.11 earnings per share. Equities analysts forecast that Payoneer Global Inc. will post 0.34 EPS for the current fiscal year.

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.