Quantedge Capital Pte Ltd Purchases 84,000 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Quantedge Capital Pte Ltd grew its position in Payoneer Global Inc. (NASDAQ:PAYO) by 58.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,300 shares of the company’s stock after purchasing an additional 84,000 shares during the quarter. Quantedge Capital Pte Ltd’s holdings in Payoneer Global were worth $2,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Quarry LP bought a new position in shares of Payoneer Global during the fourth quarter worth $29,000. Smartleaf Asset Management LLC boosted its position in shares of Payoneer Global by 405.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company’s stock worth $38,000 after acquiring an additional 3,064 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Payoneer Global by 29.3% during the fourth quarter. Fifth Third Bancorp now owns 4,488 shares of the company’s stock worth $45,000 after acquiring an additional 1,016 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Payoneer Global by 21.2% during the fourth quarter. Blue Trust Inc. now owns 5,380 shares of the company’s stock worth $54,000 after acquiring an additional 940 shares during the last quarter. Finally, CreativeOne Wealth LLC bought a new position in shares of Payoneer Global during the fourth quarter worth $103,000. 82.22% of the stock is currently owned by institutional investors.

Payoneer Global Trading Down 2.4%

PAYO opened at $7.28 on Thursday. Payoneer Global Inc. has a 12-month low of $5.03 and a 12-month high of $11.29. The firm has a market capitalization of $2.62 billion, a PE ratio of 20.80, a P/E/G ratio of 2.88 and a beta of 1.03. The firm has a 50 day moving average of $6.91 and a two-hundred day moving average of $9.03.

Payoneer Global (NASDAQ:PAYO) last posted its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $246.62 million for the quarter, compared to analysts’ expectations of $244.52 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. Payoneer Global’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm earned $0.08 earnings per share. As a group, analysts predict that Payoneer Global Inc. will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods upgraded shares of Payoneer Global from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $7.00 to $9.00 in a research report on Tuesday. The Goldman Sachs Group lowered their price objective on shares of Payoneer Global from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Needham & Company LLC lowered their price objective on shares of Payoneer Global from $14.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Citigroup increased their price objective on shares of Payoneer Global from $14.50 to $16.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Payoneer Global in a research report on Monday, February 3rd. They set a “buy” rating and a $13.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Payoneer Global has a consensus rating of “Buy” and an average price target of $11.64.

About Payoneer Global

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.