Alliancebernstein L.P. Buys 116,063 Shares of Payoneer Global Inc. (NASDAQ:PAYO)

Alliancebernstein L.P. grew its stake in shares of Payoneer Global Inc. (NASDAQ:PAYO) by 18.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 760,797 shares of the company’s stock after buying an additional 116,063 shares during the period. Alliancebernstein L.P. owned approximately 0.21% of Payoneer Global worth $7,638,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership boosted its stake in Payoneer Global by 200.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,470,347 shares of the company’s stock worth $34,842,000 after acquiring an additional 2,313,481 shares during the last quarter. Norges Bank acquired a new stake in Payoneer Global in the fourth quarter worth $18,130,000. American Century Companies Inc. raised its holdings in Payoneer Global by 24.8% in the fourth quarter. American Century Companies Inc. now owns 8,166,652 shares of the company’s stock worth $81,993,000 after purchasing an additional 1,624,948 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Payoneer Global by 414.4% during the fourth quarter. JPMorgan Chase & Co. now owns 1,162,304 shares of the company’s stock worth $11,670,000 after purchasing an additional 936,345 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Payoneer Global in the 3rd quarter valued at $6,064,000. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. The Goldman Sachs Group dropped their price objective on Payoneer Global from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Payoneer Global in a report on Monday, February 3rd. They set a “buy” rating and a $13.00 price objective on the stock. Keefe, Bruyette & Woods lowered their target price on Payoneer Global from $10.00 to $8.00 and set a “market perform” rating for the company in a research note on Monday, March 31st. Wolfe Research lowered shares of Payoneer Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Finally, Citigroup upped their price target on shares of Payoneer Global from $14.50 to $16.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Payoneer Global presently has an average rating of “Moderate Buy” and an average price target of $12.36.

Payoneer Global Stock Up 1.3 %

Shares of PAYO opened at $6.33 on Friday. The company has a 50 day moving average of $8.27 and a 200-day moving average of $9.22. The stock has a market capitalization of $2.28 billion, a P/E ratio of 18.09, a P/E/G ratio of 2.88 and a beta of 1.02. Payoneer Global Inc. has a twelve month low of $4.73 and a twelve month high of $11.29.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings results on Thursday, February 27th. 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 business 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 firm posted $0.05 earnings per share. On average, sell-side analysts anticipate that Payoneer Global Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Payoneer Global news, CFO Beatrice Ordonez sold 85,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $10.40, for a total transaction of $884,000.00. Following the transaction, the chief financial officer now owns 2,305,245 shares of the company’s stock, valued at $23,974,548. The trade was a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.57% of the stock is currently owned by corporate insiders.

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.