Keefe, Bruyette & Woods downgraded shares of Payoneer Global (NASDAQ:PAYO – Free Report) from a moderate buy rating to a hold rating in a report released on Monday morning,Zacks.com reports.
Several other analysts also recently commented on PAYO. Northland Securities set a $7.40 price target on shares of Payoneer Global in a research report on Monday. William Blair downgraded shares of Payoneer Global from an “outperform” rating to a “hold” rating in a research report on Monday. Weiss Ratings upgraded shares of Payoneer Global from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $7.40 price target on shares of Payoneer Global in a research report on Tuesday. Finally, Bank of America began coverage on shares of Payoneer Global in a research report on Wednesday, March 25th. They issued a “buy” rating and a $6.00 price target for the company. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Payoneer Global presently has an average rating of “Hold” and an average target price of $7.40.
Check Out Our Latest Stock Report on Payoneer Global
Payoneer Global Trading Down 0.1%
Payoneer Global (NASDAQ:PAYO – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.06 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm earned $0.05 EPS. Payoneer Global’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts predict that Payoneer Global will post 0.27 EPS for the current fiscal year.
Insider Transactions at Payoneer Global
In other Payoneer Global news, CFO Beatrice Ordonez sold 25,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $7.01, for a total value of $175,250.00. Following the transaction, the chief financial officer directly owned 2,887,266 shares of the company’s stock, valued at approximately $20,239,734.66. The trade was a 0.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.06% of the company’s stock.
Hedge Funds Weigh In On Payoneer Global
A number of institutional investors and hedge funds have recently made changes to their positions in PAYO. Leonteq Securities AG increased its holdings in shares of Payoneer Global by 72.0% in the 1st quarter. Leonteq Securities AG now owns 6,496 shares of the company’s stock valued at $31,000 after purchasing an additional 2,720 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of Payoneer Global by 246.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock valued at $33,000 after purchasing an additional 3,298 shares in the last quarter. Resonant Capital Advisors LLC purchased a new position in shares of Payoneer Global in the 1st quarter valued at about $49,000. CWM LLC increased its holdings in shares of 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 purchasing an additional 6,016 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Payoneer Global in the 1st quarter valued at about $57,000. 82.22% of the stock is owned by institutional investors and hedge funds.
Key Headlines Impacting Payoneer Global
Here are the key news stories impacting Payoneer Global this week:
- Positive Sentiment: Nuvei announced a definitive agreement to acquire Payoneer Global Inc. for $7.40 per share in cash, creating a larger global payments platform with expected annual revenue of about $3 billion at closing. Nuvei to Acquire Payoneer for $2.75 Billion, Creating a Leading Global Platform for Local and Cross-Border Commerce
- Positive Sentiment: Multiple reports highlighted that Payoneer’s shares jumped on the acquisition news, reflecting investor enthusiasm for the deal premium and the possibility of a near-term exit at the agreed cash price. Stock Market Today, June 15: Payoneer Global Jumps After Nuvei Agrees to Acquire Company for $2.75 Billion
- Neutral Sentiment: Payoneer’s CFO, Beatrice Ordonez, sold 25,000 shares under a pre-arranged 10b5-1 trading plan. The filing is routine and does not necessarily signal a change in fundamentals, but it is a headline investors may notice. Payoneer CFO Beatrice Ordonez Insider Trade
- Negative Sentiment: Several law firms announced investigations into whether Payoneer shareholders are getting a fair price in the transaction, which could add legal noise and create some uncertainty around the deal process. Shareholder Alert: Ademi LLP Investigates Whether Payoneer Global Inc. is Obtaining a Fair Price for Public Shareholders
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.
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