Payoneer Global (NASDAQ:PAYO) Trading Down 0.2% – Should You Sell?

Payoneer Global Inc. (NASDAQ:PAYO) traded down 0.2% during mid-day trading on Friday . The company traded as low as $5.33 and last traded at $5.39. 3,859,549 shares traded hands during mid-day trading, an increase of 33% from the average session volume of 2,912,061 shares. The stock had previously closed at $5.40.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PAYO shares. Jefferies Financial Group set a $7.00 price target on shares of Payoneer Global in a research report on Wednesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Payoneer Global in a report on Monday, October 6th. Benchmark cut their target price on Payoneer Global from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, December 23rd. Wall Street Zen upgraded Payoneer Global from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Payoneer Global in a research report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Payoneer Global Stock Performance

The company has a market cap of $1.92 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 5.17 and a beta of 1.00. The business has a fifty day moving average price of $5.62 and a 200 day moving average price of $6.17.

Payoneer Global (NASDAQ:PAYO) last released its earnings results on Wednesday, November 5th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Payoneer Global had a net margin of 6.96% and a return on equity of 10.71%. The business had revenue of $270.85 million during the quarter, compared to the consensus estimate of $262.66 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The business’s revenue was up 9.1% on a year-over-year basis. As a group, equities analysts anticipate that Payoneer Global Inc. will post 0.34 EPS for the current year.

Institutional Investors Weigh In On Payoneer Global

Several hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. increased its holdings in Payoneer Global by 246.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock worth $33,000 after purchasing an additional 3,298 shares in the last quarter. Journey Strategic Wealth LLC acquired a new position in shares of Payoneer Global in the second quarter valued at approximately $71,000. Quarry LP raised its holdings in 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 buying an additional 10,386 shares during the last quarter. Marex Group plc bought a new position in Payoneer Global in the 2nd quarter valued at approximately $72,000. Finally, Shelton Capital Management acquired a new stake in Payoneer Global during the 2nd quarter worth approximately $81,000. 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.