Payoneer Global (NASDAQ:PAYO) Earns Buy Rating from Analysts at Bank of America

Bank of America initiated coverage on shares of Payoneer Global (NASDAQ:PAYO) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage issued a buy rating and a $6.00 price target on the stock.

Other research analysts have also recently issued reports about the company. Wall Street Zen upgraded Payoneer Global from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Benchmark cut their price target on Payoneer Global from $10.00 to $7.00 and set a “buy” rating for the company in a report on Friday, March 6th. Needham & Company LLC reduced their price objective on Payoneer Global from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Keefe, Bruyette & Woods lowered their price objective on Payoneer Global from $7.50 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Payoneer Global in a report on Thursday, January 22nd. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.75.

Payoneer Global Stock Down 4.2%

Shares of NASDAQ PAYO opened at $4.78 on Wednesday. The firm has a 50-day simple moving average of $5.27 and a 200-day simple moving average of $5.65. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 0.61 and a beta of 1.09. Payoneer Global has a 52 week low of $4.08 and a 52 week high of $7.66.

Payoneer Global (NASDAQ:PAYO) last posted 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). Payoneer Global had a return on equity of 10.89% and a net margin of 6.95%.The business had revenue of $274.69 million for the quarter, compared to analyst estimates of $282.79 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. As a group, equities research analysts expect that Payoneer Global will post 0.34 EPS for the current year.

Institutional Trading of Payoneer Global

Several institutional investors have recently made changes to their positions in PAYO. Osaic Holdings Inc. lifted its holdings in Payoneer Global by 246.5% in the second 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 last quarter. CWM LLC increased its stake in Payoneer Global by 178.6% during the fourth quarter. CWM LLC now owns 9,384 shares of the company’s stock worth $53,000 after acquiring an additional 6,016 shares during the last quarter. Vident Advisory LLC purchased a new stake in Payoneer Global in the fourth quarter valued at $58,000. Empowered Funds LLC purchased a new stake in Payoneer Global in the fourth quarter valued at $63,000. Finally, Quarry LP lifted its stake in shares of Payoneer Global by 9,273.2% in the 3rd 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. Hedge funds and other institutional investors own 82.22% of the company’s stock.

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.