Payoneer Global (NASDAQ:PAYO) Stock Price Down 8.2% – Here’s Why

Payoneer Global Inc. (NASDAQ:PAYO) shares were down 8.2% on Monday . The company traded as low as $4.99 and last traded at $4.9650. Approximately 2,089,688 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 4,271,813 shares. The stock had previously closed at $5.41.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PAYO shares. Benchmark dropped their target price on Payoneer Global from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, December 23rd. Jefferies Financial Group set a $7.00 price objective on shares of Payoneer Global in a research note on Wednesday, November 5th. Wall Street Zen raised Payoneer Global from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Payoneer Global in a report on Thursday, January 22nd. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Payoneer Global Price Performance

The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 26.00, a P/E/G ratio of 6.01 and a beta of 1.04. The company’s 50-day simple moving average is $5.71 and its 200-day simple moving average is $6.00.

Institutional Inflows and Outflows

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

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.