Payoneer Global (NASDAQ:PAYO) Hits New 52-Week Low – What’s Next?

Shares of Payoneer Global Inc. (NASDAQ:PAYO) hit a new 52-week low during trading on Tuesday . The stock traded as low as $4.89 and last traded at $4.94, with a volume of 6358815 shares. The stock had previously closed at $5.41.

Wall Street Analysts Forecast Growth

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

Payoneer Global Trading Up 4.2%

The company has a market capitalization of $1.87 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 5.59 and a beta of 1.04. The stock’s 50-day moving average is $5.67 and its two-hundred day moving average is $5.97.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Payoneer Global had a return on equity of 10.71% and a net margin of 6.96%.The business had revenue of $274.69 million during the quarter, compared to analysts’ expectations of $282.79 million. On average, equities research analysts forecast that Payoneer Global Inc. will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can increased its position in shares of Payoneer Global by 4.4% during the second quarter. Bank of Montreal Can now owns 40,713 shares of the company’s stock worth $279,000 after acquiring an additional 1,710 shares during the period. Nisa Investment Advisors LLC grew its stake in Payoneer Global by 4.1% in the third quarter. Nisa Investment Advisors LLC now owns 49,815 shares of the company’s stock worth $301,000 after purchasing an additional 1,949 shares in the last quarter. Van ECK Associates Corp increased its holdings in Payoneer Global by 2.4% during the 4th quarter. Van ECK Associates Corp now owns 84,678 shares of the company’s stock worth $476,000 after purchasing an additional 1,977 shares during the period. Susquehanna International Group LLP raised its position in Payoneer Global by 9.5% during the 3rd quarter. Susquehanna International Group LLP now owns 24,637 shares of the company’s stock valued at $149,000 after purchasing an additional 2,144 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in Payoneer Global by 4.1% during the 4th quarter. ProShare Advisors LLC now owns 54,909 shares of the company’s stock valued at $309,000 after purchasing an additional 2,145 shares in the last quarter. 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.