Payoneer Global Inc. (NASDAQ:PAYO) Short Interest Update

Payoneer Global Inc. (NASDAQ:PAYO) was the recipient of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 11,214,537 shares, a decline of 18.0% from the February 26th total of 13,670,906 shares. Currently, 3.3% of the company’s stock are short sold. Based on an average daily volume of 4,694,280 shares, the days-to-cover ratio is presently 2.4 days.

Wall Street Analysts Forecast Growth

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

Payoneer Global Stock Up 0.7%

NASDAQ:PAYO traded up $0.04 during midday trading on Monday, reaching $4.82. The stock had a trading volume of 555,477 shares, compared to its average volume of 4,490,078. The stock has a market cap of $1.66 billion, a P/E ratio of 25.34, a P/E/G ratio of 0.60 and a beta of 1.10. The firm has a fifty day simple moving average of $5.27 and a two-hundred day simple moving average of $5.64. Payoneer Global has a 12-month low of $4.08 and a 12-month high of $7.66.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $274.69 million for the quarter, compared to analysts’ expectations of $282.79 million. Payoneer Global had a return on equity of 10.89% and a net margin of 6.95%.The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS. On average, sell-side analysts anticipate that Payoneer Global will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Payoneer Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP lifted 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 acquiring an additional 261,895 shares during the period. Azora Capital LP acquired a new stake in shares of Payoneer Global in the second quarter valued at about $30,996,000. American Century Companies Inc. boosted its holdings in Payoneer Global by 10.7% during the third quarter. American Century Companies Inc. now owns 7,326,825 shares of the company’s stock worth $44,327,000 after buying an additional 707,790 shares in the last quarter. Greenvale Capital LLP acquired a new position in Payoneer Global during the second quarter worth about $14,472,000. Finally, Public Sector Pension Investment Board increased 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 buying an additional 250,639 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.