Payoneer Global (NASDAQ:PAYO) Shares Gap Down on Disappointing Earnings

Payoneer Global Inc. (NASDAQ:PAYO) gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. 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 trading hands.

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 return on equity of 17.78% and a net margin of 13.82%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Payoneer Global in a research note on Monday, February 3rd. They set a “buy” rating and a $13.00 target price for the company. Needham & Company LLC boosted their target price on shares of Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Wolfe Research cut shares of Payoneer Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Benchmark increased their price target on shares of Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Northland Securities increased their price target on shares of Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Payoneer Global currently has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Insider Transactions at Payoneer Global

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new position in shares of Payoneer Global in the 4th quarter valued at $29,000. Blue Trust Inc. grew its position in 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 last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Payoneer Global by 405.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company’s stock worth $38,000 after acquiring an additional 3,064 shares during the period. Fifth Third Bancorp lifted its stake in shares of Payoneer Global by 29.3% in the 4th quarter. Fifth Third Bancorp now owns 4,488 shares of the company’s stock worth $45,000 after acquiring an additional 1,016 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Payoneer Global by 41.7% in the 4th quarter. GAMMA Investing LLC now owns 8,241 shares of the company’s stock worth $83,000 after acquiring an additional 2,425 shares during the period. 82.22% of the stock is owned by hedge funds and other institutional investors.

Payoneer Global Trading Down 12.5 %

The company has a market cap of $3.18 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 2.88 and a beta of 0.93. The company’s 50 day moving average price is $10.33 and its 200 day moving average price is $9.23.

About Payoneer Global

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.