Payoneer Global (NASDAQ:PAYO) Share Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Shares of Payoneer Global Inc. (NASDAQ:PAYO) passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $7.13 and traded as high as $7.15. Payoneer Global shares last traded at $7.15, with a volume of 2,766,436 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PAYO. Deutsche Bank Aktiengesellschaft cut Payoneer Global from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Weiss Ratings raised Payoneer Global from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.40.

Payoneer Global Trading Up 0.4%

The firm has a 50 day moving average price of $7.13 and a 200-day moving average price of $6.13. The firm has a market capitalization of $2.42 billion, a P/E ratio of 51.08, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.07). Payoneer Global had a net margin of 4.65% and a return on equity of 9.97%. The business had revenue of $274.26 million for the quarter, compared to analyst estimates of $270.98 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. Research analysts anticipate that Payoneer Global Inc. will post 0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Payoneer Global during the 2nd quarter valued at $278,076,000. Pentwater Capital Management LP bought a new stake in shares of Payoneer Global during the second quarter valued at approximately $70,405,000. Bank of America Corp DE acquired a new stake in shares of Payoneer Global during the 2nd quarter worth about $26,398,000. Bank of New York Mellon Corp bought a new position in Payoneer Global in the 2nd quarter worth approximately $10,549,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Payoneer Global by 2,061.4% in the first 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. Institutional investors and hedge funds own 82.22% of the company’s stock.

Payoneer Global Company Profile

Payoneer Global Inc (NASDAQ: PAYO) operates a global financial technology platform that helps businesses, online marketplaces, freelancers and other professionals send, receive and manage payments across borders. Its services are designed to support companies that operate internationally, including small and medium-sized businesses and digital commerce participants.

The company provides multi-currency receiving accounts, cross-border payouts, supplier and contractor payments, currency conversion and other business payment tools.