Payoneer Global (NASDAQ:PAYO) Sees Unusually-High Trading Volume – Here’s Why
by Danessa Lincoln · The Markets DailyPayoneer Global Inc. (NASDAQ:PAYO – Get Free Report) shares saw strong trading volume on Monday . 24,956,464 shares changed hands during trading, an increase of 411% from the previous session’s volume of 4,883,419 shares.The stock last traded at $7.0450 and had previously closed at $6.75.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. Bank of America assumed coverage on shares of Payoneer Global in a research note on Wednesday, March 25th. They issued a “buy” rating and a $6.00 price objective for the company. Benchmark restated a “buy” rating and issued a $9.00 price objective on shares of Payoneer Global in a research note on Wednesday, June 10th. Needham & Company LLC cut shares of Payoneer Global from a “buy” rating to a “hold” rating in a research note on Monday. Keefe, Bruyette & Woods reduced their price objective on shares of Payoneer Global from $7.50 to $7.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. Finally, Northland Securities set a $7.40 price objective on shares of Payoneer Global in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Payoneer Global has a consensus rating of “Moderate Buy” and an average target price of $7.49.
View Our Latest Report on Payoneer Global
Payoneer Global Trading Up 4.1%
The stock has a market cap of $2.35 billion, a P/E ratio of 35.13, a price-to-earnings-growth ratio of 0.72 and a beta of 1.02. The company’s fifty day simple moving average is $5.13 and its 200-day simple moving average is $5.32.
Payoneer Global (NASDAQ:PAYO – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. The firm had revenue of $261.60 million for the quarter, compared to analyst estimates of $255.12 million. Payoneer Global had a net margin of 6.76% and a return on equity of 11.10%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. As a group, analysts expect that Payoneer Global Inc. will post 0.27 earnings per share for the current fiscal year.
Institutional Trading of Payoneer Global
A number of hedge funds and other institutional investors have recently made changes to their positions in PAYO. Leonteq Securities AG raised its holdings in shares of Payoneer Global by 72.0% in the first quarter. Leonteq Securities AG now owns 6,496 shares of the company’s stock valued at $31,000 after purchasing an additional 2,720 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of Payoneer Global by 246.5% in the second quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock valued at $33,000 after buying an additional 3,298 shares in the last quarter. Resonant Capital Advisors LLC bought a new position in shares of Payoneer Global in the first quarter valued at $49,000. CWM LLC grew its stake in shares of Payoneer Global by 178.6% in 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 in the last quarter. Finally, State of Wyoming bought a new position in shares of Payoneer Global in the first quarter valued at $57,000. 82.22% of the stock is currently owned by institutional investors and hedge funds.
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.