Payoneer Global (NASDAQ:PAYO) Rating Lowered to Hold at Keefe, Bruyette & Woods

Payoneer Global (NASDAQ:PAYO) was downgraded by stock analysts at Keefe, Bruyette & Woods from a “moderate buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts have also issued reports on PAYO. Weiss Ratings raised Payoneer Global from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Benchmark reissued a “buy” rating and issued a $9.00 price objective on shares of Payoneer Global in a report on Wednesday, June 10th. Wall Street Zen upgraded Payoneer Global from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Northland Securities set a $7.40 target price on Payoneer Global in a research report on Monday. Finally, Needham & Company LLC downgraded Payoneer Global from a “buy” rating to a “hold” rating in a research report on Monday. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Payoneer Global has an average rating of “Hold” and an average target price of $7.40.

Payoneer Global Price Performance

Shares of PAYO stock opened at $7.02 on Monday. Payoneer Global has a 12-month low of $4.08 and a 12-month high of $7.66. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 35.10, a price-to-earnings-growth ratio of 0.75 and a beta of 1.02. The business has a 50 day simple moving average of $5.22 and a 200 day simple moving average of $5.34.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Payoneer Global had a return on equity of 11.10% and a net margin of 6.76%.The business had revenue of $261.60 million during the quarter, compared to analyst estimates of $255.12 million. During the same period in the prior year, the company posted $0.05 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that Payoneer Global will post 0.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other Payoneer Global news, CFO Beatrice Ordonez sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $7.01, for a total value of $175,250.00. Following the completion of the sale, the chief financial officer directly owned 2,887,266 shares in the company, valued at $20,239,734.66. This represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On Payoneer Global

A number of institutional investors and hedge funds have recently modified their holdings of PAYO. Invesco Ltd. lifted its position in shares of Payoneer Global by 137.3% during the 2nd quarter. Invesco Ltd. now owns 5,562,623 shares of the company’s stock valued at $38,104,000 after acquiring an additional 3,218,917 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Payoneer Global by 2,061.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,013,014 shares of the company’s stock valued at $4,893,000 after acquiring an additional 966,146 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Payoneer Global by 238.5% during 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 last quarter. HRT Financial LP acquired a new stake in shares of Payoneer Global during the 4th quarter valued at $4,912,000. Finally, Blue Owl Capital Holdings LP acquired a new stake in shares of Payoneer Global during the 4th quarter valued at $4,680,000. Institutional investors and hedge funds own 82.22% of the company’s stock.

Payoneer Global News Roundup

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

• Positive Sentiment: Nuvei announced a definitive agreement to acquire Payoneer Global Inc. for $7.40 per share in cash, creating a larger global payments platform with expected annual revenue of about $3 billion at closing. Nuvei to Acquire Payoneer for $2.75 Billion, Creating a Leading Global Platform for Local and Cross-Border Commerce
• Positive Sentiment: Multiple reports highlighted that Payoneer’s shares jumped on the acquisition news, reflecting investor enthusiasm for the deal premium and the possibility of a near-term exit at the agreed cash price. Stock Market Today, June 15: Payoneer Global Jumps After Nuvei Agrees to Acquire Company for $2.75 Billion
• Neutral Sentiment: Payoneer’s CFO, Beatrice Ordonez, sold 25,000 shares under a pre-arranged 10b5-1 trading plan. The filing is routine and does not necessarily signal a change in fundamentals, but it is a headline investors may notice. Payoneer CFO Beatrice Ordonez Insider Trade
• Negative Sentiment: Several law firms announced investigations into whether Payoneer shareholders are getting a fair price in the transaction, which could add legal noise and create some uncertainty around the deal process. Shareholder Alert: Ademi LLP Investigates Whether Payoneer Global Inc. is Obtaining a Fair Price for Public Shareholders

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.