Payoneer Global (NASDAQ:PAYO) Downgraded by Northland Securities to Hold

Payoneer Global (NASDAQ:PAYO) was downgraded by stock analysts at Northland Securities from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other analysts have also commented on PAYO. Wall Street Zen raised shares of Payoneer Global from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Benchmark restated a “buy” rating and issued a $9.00 target price on shares of Payoneer Global in a research note on Wednesday, June 10th. William Blair reaffirmed a “market perform” rating on shares of Payoneer Global in a report on Monday. Citigroup lowered Payoneer Global from a “buy” rating to a “neutral” rating in a report on Tuesday. Finally, Bank of America started coverage on Payoneer Global in a research report on Wednesday, March 25th. They issued a “buy” rating and a $6.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.40.

Payoneer Global Trading Up 4.1%

Shares of NASDAQ:PAYO opened at $7.03 on Monday. The company has a market capitalization of $2.35 billion, a PE ratio of 35.15, a P/E/G ratio of 0.72 and a beta of 1.02. Payoneer Global has a 12-month low of $4.08 and a 12-month high of $7.66. The business’s fifty day simple moving average is $5.18 and its 200-day simple moving average is $5.33.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Payoneer Global had a return on equity of 11.10% and a net margin of 6.76%.The company had revenue of $261.60 million for the quarter, compared to the consensus estimate of $255.12 million. During the same quarter last year, the company earned $0.05 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts predict that Payoneer Global will post 0.27 EPS for the current year.

Institutional Trading of Payoneer Global

A number of institutional investors have recently bought and sold shares of PAYO. Osaic Holdings Inc. grew its position in Payoneer Global by 246.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock worth $33,000 after purchasing an additional 3,298 shares during the last quarter. Leonteq Securities AG lifted its stake in shares of Payoneer Global by 72.0% during the first quarter. Leonteq Securities AG now owns 6,496 shares of the company’s stock worth $31,000 after buying an additional 2,720 shares during the period. CWM LLC grew its holdings in shares of Payoneer Global by 178.6% during the fourth quarter. CWM LLC now owns 9,384 shares of the company’s stock valued at $53,000 after buying an additional 6,016 shares during the last quarter. Resonant Capital Advisors LLC acquired a new position in shares of Payoneer Global in the 1st quarter valued at $49,000. Finally, Vident Advisory LLC acquired a new position in shares of Payoneer Global in the 4th quarter valued at $58,000. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Payoneer Global News Summary

Here are the key news stories impacting Payoneer Global this week:

• Positive Sentiment: Nuvei agreed to buy Payoneer for $7.40 per share in cash, a premium that supports the stock and gives shareholders a clear exit value. Nuvei to Acquire Payoneer for $2.75 Billion, Creating a Leading Global Platform for Local and Cross-Border Commerce
• Positive Sentiment: The combined company is expected to create a major cross-border payments platform with roughly $3 billion in annual revenue and more than $500 billion in annual payment volume, which may be viewed favorably for the strategic rationale of the deal. Nuvei Inks $2.75 Billion Payoneer Acquisition to Supercharge Cross-Border Commerce
• Neutral Sentiment: William Blair reaffirmed its “market perform” rating on Payoneer, suggesting the broker view did not materially change despite the takeover announcement. Benzinga report on William Blair rating reaffirmation
• Negative Sentiment: Several law firms have launched investigations into whether Payoneer’s board obtained a fair price for shareholders, which could create headline risk and possible legal overhang around the deal. 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.