Payoneer Global Inc. (NASDAQ:PAYO – Get Free Report) shares rose 18.1% during mid-day trading on Tuesday . The company traded as high as $5.33 and last traded at $6.07. Approximately 511,826 shares traded hands during trading, a decline of 88% from the average daily volume of 4,144,589 shares. The stock had previously closed at $5.14.
Key Payoneer Global News
Here are the key news stories impacting Payoneer Global this week:
- Positive Sentiment: Multiple reports say Nuvei is in advanced talks to buy Payoneer for about $2.7 billion, fueling acquisition speculation and a possible takeover premium. Nuvei in discussions to acquire Payoneer for $2.7bn- report
- Positive Sentiment: Benchmark reiterated a Buy rating on PAYO and raised its price target to $9.00, implying further upside if the company’s fundamentals or deal prospects improve. Benchmark reiterates buy rating on Payoneer
- Neutral Sentiment: Payoneer shareholders also voted on routine annual meeting items, including board, auditor, and executive compensation matters, which is not likely to materially affect near-term trading. Payoneer Shareholders Reaffirm Board, Auditor and Executive Pay
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Payoneer Global from $7.50 to $7.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Weiss Ratings downgraded shares of Payoneer Global from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Wall Street Zen upgraded shares of Payoneer Global from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Benchmark reiterated a “buy” rating and set a $9.00 price target on shares of Payoneer Global in a report on Wednesday. Finally, Bank of America assumed coverage on shares of Payoneer Global in a report on Wednesday, March 25th. They set a “buy” rating and a $6.00 price target for the company. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.50.
Payoneer Global Stock Up 4.4%
The business’s fifty day moving average price is $5.06 and its 200 day moving average price is $5.30. The firm has a market capitalization of $2.23 billion, a PE ratio of 33.35, a P/E/G ratio of 0.68 and a beta of 1.02.
Payoneer Global (NASDAQ:PAYO – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Payoneer Global had a net margin of 6.76% and a return on equity of 11.10%. The firm had revenue of $261.60 million during the quarter, compared to the consensus estimate of $255.12 million. During the same period in the previous year, the firm earned $0.05 earnings per share. Payoneer Global’s revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Payoneer Global Inc. will post 0.27 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Payoneer Global
Institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP grew its holdings in Payoneer Global by 195.9% in the third quarter. GSA Capital Partners LLP now owns 395,610 shares of the company’s stock valued at $2,393,000 after purchasing an additional 261,895 shares during the period. American Century Companies Inc. grew its holdings in Payoneer Global by 10.7% in the third quarter. American Century Companies Inc. now owns 7,326,825 shares of the company’s stock valued at $44,327,000 after purchasing an additional 707,790 shares during the period. JPMorgan Chase & Co. grew its holdings in Payoneer Global by 128.5% in the third quarter. JPMorgan Chase & Co. now owns 638,225 shares of the company’s stock valued at $3,861,000 after purchasing an additional 358,922 shares during the period. WINTON GROUP Ltd purchased a new stake in Payoneer Global in the third quarter valued at approximately $3,349,000. Finally, Public Sector Pension Investment Board grew its holdings in Payoneer Global by 28.2% in the third quarter. Public Sector Pension Investment Board now owns 1,138,375 shares of the company’s stock valued at $6,887,000 after purchasing an additional 250,639 shares during the period. 82.22% of the stock is currently owned by hedge funds and other institutional investors.
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.
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