Payoneer Global (NASDAQ:PAYO) Announces Earnings Results

Payoneer Global (NASDAQ:PAYO) announced its quarterly earnings results on Thursday. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07), FiscalAI reports. Payoneer Global had a return on equity of 9.97% and a net margin of 4.65%.The company had revenue of $274.26 million during the quarter, compared to analysts’ expectations of $270.98 million. During the same period last year, the firm earned $0.05 earnings per share. Payoneer Global’s revenue for the quarter was up 5.2% on a year-over-year basis.

Payoneer Global Price Performance

PAYO traded down $0.01 on Friday, hitting $7.10. The company had a trading volume of 3,933,240 shares, compared to its average volume of 4,280,772. Payoneer Global has a 52-week low of $4.08 and a 52-week high of $7.18. The firm has a market capitalization of $2.38 billion, a P/E ratio of 50.72, a P/E/G ratio of 0.80 and a beta of 0.96. The stock has a fifty day simple moving average of $6.83 and a 200-day simple moving average of $5.72.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Needham & Company LLC cut shares of Payoneer Global from a “buy” rating to a “hold” rating in a report on Monday, June 15th. Wall Street Zen raised shares of Payoneer Global from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings upgraded shares of Payoneer Global from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 25th. Citigroup downgraded shares of Payoneer Global from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $10.00 to $7.40 in a research note on Tuesday, June 16th. Finally, Keefe, Bruyette & Woods lowered shares of Payoneer Global from a “moderate buy” rating to a “hold” rating in a report on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Payoneer Global has an average rating of “Hold” and an average target price of $7.40.

Insider Buying and Selling

In other news, CFO Beatrice Ordonez sold 25,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $7.01, for a total value of $175,250.00. Following the sale, the chief financial officer directly owned 2,887,266 shares of the company’s stock, valued at $20,239,734.66. This represents a 0.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.06% of the company’s stock.

Institutional Trading of Payoneer Global

Institutional investors and hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its stake in Payoneer Global by 246.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock valued at $33,000 after acquiring an additional 3,298 shares during the period. Vident Advisory LLC bought a new stake in shares of Payoneer Global in the fourth quarter worth approximately $58,000. Quarry LP raised its holdings in shares of Payoneer Global by 9,273.2% during the third quarter. Quarry LP now owns 10,498 shares of the company’s stock valued at $64,000 after purchasing an additional 10,386 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Payoneer Global during the fourth quarter valued at approximately $63,000. Finally, Captrust Financial Advisors bought a new position in Payoneer Global during the fourth quarter valued at approximately $65,000. 82.22% of the stock is currently owned by institutional investors.

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.