Payoneer Global (NASDAQ:PAYO) Shares Gap Down After Earnings Miss

Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report) gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $10.18, but opened at $8.56. Payoneer Global shares last traded at $8.76, with a volume of 2,224,309 shares traded.

The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The company had revenue of $261.74 million during the quarter, compared to analyst estimates of $242.14 million. During the same quarter in the previous year, the company posted $0.05 EPS.

Analysts Set New Price Targets

PAYO has been the topic of several research analyst reports. Citigroup lifted their price target on Payoneer Global from $8.50 to $13.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Northland Securities increased their price target on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. The Goldman Sachs Group lifted their price objective on shares of Payoneer Global from $9.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Payoneer Global in a report on Monday, February 3rd. They issued a "buy" rating and a $13.00 target price for the company. Finally, Needham & Company LLC raised their price target on Payoneer Global from $10.00 to $14.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $12.57.

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Insider Transactions at Payoneer Global

In other Payoneer Global news, insider Tsafi Goldman sold 263,873 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $10.10, for a total transaction of $2,665,117.30. Following the transaction, the insider now owns 741,748 shares in the company, valued at approximately $7,491,654.80. The trade was a 26.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Beatrice Ordonez sold 85,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $10.40, for a total value of $884,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,305,245 shares of the company's stock, valued at $23,974,548. This represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 445,223 shares of company stock worth $4,519,362 over the last ninety days. 5.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Payoneer Global

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new stake in Payoneer Global during the fourth quarter worth $29,000. Blue Trust Inc. lifted its stake in shares of Payoneer Global by 135.2% during the 3rd quarter. Blue Trust Inc. now owns 4,440 shares of the company's stock worth $33,000 after purchasing an additional 2,552 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Payoneer Global by 405.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company's stock worth $38,000 after purchasing an additional 3,064 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Payoneer Global by 29.3% in the fourth quarter. Fifth Third Bancorp now owns 4,488 shares of the company's stock valued at $45,000 after purchasing an additional 1,016 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Payoneer Global by 41.7% in the fourth quarter. GAMMA Investing LLC now owns 8,241 shares of the company's stock valued at $83,000 after purchasing an additional 2,425 shares during the period. 82.22% of the stock is owned by institutional investors and hedge funds.

Payoneer Global Stock Down 2.3 %

The company has a 50 day moving average of $10.27 and a 200 day moving average of $9.27. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 2.88 and a beta of 0.93.

Payoneer Global Company Profile

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.