Payoneer Global (NASDAQ:PAYO) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Payoneer Global (NASDAQ:PAYO) from a hold rating to a sell rating in a research report report published on Saturday.

A number of other analysts also recently weighed in on the stock. Benchmark decreased their target price on shares of Payoneer Global from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Bank of America initiated coverage on shares of Payoneer Global in a research note on Wednesday, March 25th. They issued a “buy” rating and a $6.00 price objective on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Payoneer Global from $7.50 to $7.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Needham & Company LLC lowered their target price on shares of Payoneer Global from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Payoneer Global in a report on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.75.

Payoneer Global Trading Down 0.2%

Shares of PAYO opened at $4.77 on Friday. The stock’s 50-day moving average price is $5.26 and its two-hundred day moving average price is $5.63. Payoneer Global has a 12 month low of $4.08 and a 12 month high of $7.66. The company has a market capitalization of $1.64 billion, a PE ratio of 25.11, a PEG ratio of 0.60 and a beta of 1.10.

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). The company had revenue of $274.69 million during the quarter, compared to analyst estimates of $282.79 million. Payoneer Global had a net margin of 6.95% and a return on equity of 10.89%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 EPS. Equities research analysts predict that Payoneer Global will post 0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Payoneer Global

Several institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. boosted its position in shares of Payoneer Global by 246.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock worth $33,000 after purchasing an additional 3,298 shares in the last quarter. CWM LLC increased its position in Payoneer Global by 178.6% in the 4th quarter. CWM LLC now owns 9,384 shares of the company’s stock valued at $53,000 after buying an additional 6,016 shares in the last quarter. Vident Advisory LLC acquired a new position in Payoneer Global during the 4th quarter worth approximately $58,000. Empowered Funds LLC acquired a new position in Payoneer Global during the 4th quarter worth approximately $63,000. Finally, Quarry LP boosted its holdings in Payoneer Global by 9,273.2% in the third quarter. Quarry LP now owns 10,498 shares of the company’s stock worth $64,000 after acquiring an additional 10,386 shares in the last quarter. Institutional investors and hedge funds own 82.22% of the company’s stock.

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.