Payoneer Global (NASDAQ:PAYO) Hits New 12-Month Low on Analyst Downgrade

Payoneer Global Inc. (NASDAQ:PAYO)’s share price reached a new 52-week low during trading on Monday after Keefe, Bruyette & Woods lowered their price target on the stock from $7.50 to $7.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Payoneer Global traded as low as $4.08 and last traded at $4.4150, with a volume of 533380 shares traded. The stock had previously closed at $4.32.

Other research analysts have also issued research reports about the company. Benchmark lowered their price objective on Payoneer Global from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, December 23rd. Needham & Company LLC dropped their price target on shares of Payoneer Global from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday. Wall Street Zen upgraded shares of Payoneer Global from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Jefferies Financial Group set a $7.00 target price on shares of Payoneer Global in a research note on Wednesday, November 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Payoneer Global in a research report on Thursday, January 22nd. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.43.

Hedge Funds Weigh In On Payoneer Global

Several large investors have recently added to or reduced their stakes in PAYO. Royal Bank of Canada grew its holdings in shares of Payoneer Global by 299.7% during the 1st quarter. Royal Bank of Canada now owns 158,997 shares of the company’s stock worth $1,162,000 after purchasing an additional 119,219 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Payoneer Global by 8.8% in the first quarter. AQR Capital Management LLC now owns 291,908 shares of the company’s stock valued at $2,134,000 after purchasing an additional 23,533 shares in the last quarter. Caxton Associates LLP bought a new position in Payoneer Global in the first quarter worth $172,000. United Services Automobile Association acquired a new stake in Payoneer Global during the first quarter worth $126,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Payoneer Global by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 757,827 shares of the company’s stock valued at $5,540,000 after buying an additional 41,970 shares during the period. Institutional investors and hedge funds own 82.22% of the company’s stock.

Payoneer Global Trading Up 2.2%

The stock has a market cap of $1.57 billion, a P/E ratio of 23.22, a price-to-earnings-growth ratio of 4.85 and a beta of 1.10. The company’s fifty day simple moving average is $5.61 and its 200-day simple moving average is $5.93.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings results 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). The company had revenue of $274.69 million during the quarter, compared to the consensus estimate of $282.79 million. Payoneer Global had a net margin of 6.95% and a return on equity of 10.89%. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company earned $0.05 earnings per share. As a group, analysts expect that Payoneer Global Inc. will post 0.34 earnings per share for the current fiscal year.

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.