Payoneer Global (NASDAQ:PAYO) Coverage Initiated at Bank of America

Analysts at Bank of America began coverage on shares of Payoneer Global (NASDAQ:PAYO) in a report released on Wednesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $6.00 price target on the stock. Bank of America‘s price target would indicate a potential upside of 26.85% from the company’s previous close.

A number of other brokerages have also recently weighed in on PAYO. Needham & Company LLC reduced 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 report on Thursday, February 26th. Keefe, Bruyette & Woods dropped their price objective on Payoneer Global from $7.50 to $7.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Benchmark cut their target price on Payoneer Global from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Payoneer Global in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded Payoneer Global from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.75.

Payoneer Global Stock Down 1.3%

Shares of PAYO opened at $4.73 on Wednesday. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 0.59 and a beta of 1.09. Payoneer Global has a 52-week low of $4.08 and a 52-week high of $7.97. The stock has a 50 day moving average price of $5.30 and a 200 day moving average price of $5.68.

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

Institutional Investors Weigh In On Payoneer Global

Several hedge funds have recently made changes to their positions in the business. State Street Corp increased its position in Payoneer Global by 1.8% in the 4th quarter. State Street Corp now owns 10,772,088 shares of the company’s stock valued at $60,539,000 after acquiring an additional 195,410 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Payoneer Global by 1.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,436,470 shares of the company’s stock valued at $58,654,000 after purchasing an additional 182,614 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Payoneer Global by 10.7% in the 3rd quarter. American Century Companies Inc. now owns 7,326,825 shares of the company’s stock valued at $44,327,000 after purchasing an additional 707,790 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Payoneer Global by 3.2% in the third quarter. Dimensional Fund Advisors LP now owns 7,309,436 shares of the company’s stock valued at $44,229,000 after purchasing an additional 224,287 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Payoneer Global by 137.3% during the second quarter. Invesco Ltd. now owns 5,562,623 shares of the company’s stock worth $38,104,000 after purchasing an additional 3,218,917 shares during the last quarter. Institutional investors and hedge funds own 82.22% of the company’s stock.

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.