Benchmark Reaffirms “Buy” Rating for Payoneer Global (NASDAQ:PAYO)

Payoneer Global (NASDAQ:PAYO)‘s stock had its “buy” rating restated by research analysts at Benchmark in a report released on Wednesday,Benzinga reports. They currently have a $9.00 target price on the stock. Benchmark’s price target indicates a potential upside of 37.51% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Payoneer Global from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Wall Street Zen raised shares of Payoneer Global from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Bank of America initiated coverage on shares of Payoneer Global in a report on Wednesday, March 25th. They set a “buy” rating and a $6.00 target price for the company. Keefe, Bruyette & Woods dropped their price target on Payoneer Global from $7.50 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Finally, Needham & Company LLC cut their price target on Payoneer Global from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Payoneer Global has an average rating of “Moderate Buy” and a consensus price target of $7.50.

Payoneer Global Stock Up 2.4%

Shares of PAYO stock opened at $6.55 on Wednesday. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 0.55 and a beta of 1.02. The business’s fifty day moving average is $5.02 and its 200 day moving average is $5.29. Payoneer Global has a twelve month low of $4.08 and a twelve month high of $7.66.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. The business had revenue of $261.60 million during the quarter, compared to analyst estimates of $255.12 million. Payoneer Global had a return on equity of 11.10% and a net margin of 6.76%.The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 earnings per share. Equities research analysts expect that Payoneer Global will post 0.27 earnings per share for the current fiscal year.

Institutional Trading of Payoneer Global

Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its stake in shares of Payoneer Global by 299.7% in the first quarter. Royal Bank of Canada now owns 158,997 shares of the company’s stock worth $1,162,000 after buying an additional 119,219 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Payoneer Global by 8.8% during the first quarter. AQR Capital Management LLC now owns 291,908 shares of the company’s stock valued at $2,134,000 after acquiring an additional 23,533 shares in the last quarter. Caxton Associates LLP purchased a new position in Payoneer Global in the 1st quarter worth approximately $172,000. United Services Automobile Association bought a new position in Payoneer Global in the 1st quarter valued at approximately $126,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 acquiring an additional 41,970 shares in the last quarter. 82.22% of the stock is currently owned by institutional investors.

Payoneer Global News Summary

Here are the key news stories impacting Payoneer Global this week:

• Positive Sentiment: Reports of advanced acquisition talks with Nuvei have sparked takeover speculation and pushed investors to revalue Payoneer closer to a buyout price. Nuvei in Advanced Talks to Acquire Payoneer for US$2.7 Billion, Sources Say
• Positive Sentiment: The deal chatter was reinforced across multiple reports, increasing confidence that strategic interest in Payoneer is real and helping fuel the stock’s sharp move higher. Stock Market Today, June 9: Payoneer Global Surges on Reports of $2.7 Billion Nuvei Acquisition Offer
• Neutral Sentiment: Payoneer’s annual meeting results showed shareholders re-elected directors and reaffirmed auditor and executive pay, a routine governance update with limited immediate stock impact. Payoneer Shareholders Reaffirm Board, Auditor and Executive Pay
• Neutral Sentiment: Short interest data showed no meaningful new bearish signal, so it does not appear to be driving the move.

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.