Payoneer Global (NASDAQ:PAYO) Trading Down 6.7%

Shares of Payoneer Global Inc. (NASDAQ:PAYO – Get Rating) fell 6.7% during mid-day trading on Monday . The company traded as low as $4.29 and last traded at $4.31. 12,976 shares were traded during mid-day trading, a decline of 100% from the average session volume of 3,110,084 shares. The stock had previously closed at $4.62.

A number of research firms have recently issued reports on PAYO. Citigroup dropped their price target on Payoneer Global from $12.50 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, January 26th. Needham & Company LLC lowered their target price on Payoneer Global from $13.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, March 4th. Finally, Zacks Investment Research cut Payoneer Global from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Payoneer Global presently has an average rating of “Buy” and a consensus target price of $10.75.

The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $4.57 and a 200 day simple moving average of $6.27. The firm has a market capitalization of $1.47 billion, a P/E ratio of -4.30 and a beta of 0.81.

Payoneer Global (NASDAQ:PAYO – Get Rating) last issued its quarterly earnings data on Thursday, March 3rd. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.04). Payoneer Global had a negative return on equity of 17.36% and a negative net margin of 7.18%. The company had revenue of $139.22 million for the quarter, compared to the consensus estimate of $126.29 million. During the same period in the previous year, the firm earned ($0.29) earnings per share. The company’s revenue was up 47.0% compared to the same quarter last year. Research analysts anticipate that Payoneer Global Inc. will post -0.22 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in Payoneer Global by 3,831.6% during the third quarter. Geode Capital Management LLC now owns 1,790,397 shares of the company’s stock worth $15,307,000 after acquiring an additional 1,744,858 shares during the last quarter. Tuttle Capital Management LLC purchased a new stake in shares of Payoneer Global in the fourth quarter worth approximately $158,000. Van ECK Associates Corp purchased a new stake in shares of Payoneer Global in the fourth quarter worth approximately $463,000. GSA Capital Partners LLP purchased a new stake in shares of Payoneer Global in the third quarter worth approximately $234,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Payoneer Global in the third quarter worth approximately $2,598,000. 56.98% of the stock is currently owned by institutional investors.

Payoneer Global Company Profile (NASDAQ:PAYO)

Payoneer Inc operates a cross-border payment and commerce-enabling platform that facilitates digital businesses, online sellers, and freelancers worldwide to receive and manage their international payments. The company delivers a suite of services that includes cross-border payments, working capital, tax solutions, merchant services, and risk management.

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