Millennium Management LLC Increases Stock Position in Payoneer Global Inc. (NASDAQ:PAYO)

Millennium Management LLC lifted its stake in Payoneer Global Inc. (NASDAQ:PAYO) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,523,595 shares of the company’s stock after purchasing an additional 21,149 shares during the period. Millennium Management LLC’s holdings in Payoneer Global were worth $65,497,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Quarry LP bought a new stake in Payoneer Global in the 4th quarter worth approximately $29,000. Smartleaf Asset Management LLC boosted 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 buying an additional 3,064 shares during the last quarter. Fifth Third Bancorp boosted 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 buying an additional 1,016 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Payoneer Global by 21.2% in the fourth quarter. Blue Trust Inc. now owns 5,380 shares of the company’s stock worth $54,000 after acquiring an additional 940 shares during the period. Finally, CreativeOne Wealth LLC purchased a new stake in Payoneer Global during the fourth quarter valued at $103,000. 82.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PAYO. Deutsche Bank Aktiengesellschaft initiated coverage on Payoneer Global in a research report on Monday, February 3rd. They issued a “buy” rating and a $13.00 target price on the stock. Citigroup raised their price objective on shares of Payoneer Global from $14.50 to $16.50 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Keefe, Bruyette & Woods raised shares of Payoneer Global from a “market perform” rating to an “outperform” rating and upped their target price for the company from $7.00 to $9.00 in a report on Tuesday. Needham & Company LLC decreased their price target on shares of Payoneer Global from $14.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group cut their price objective on shares of Payoneer Global from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $11.64.

Payoneer Global Price Performance

Shares of NASDAQ:PAYO opened at $7.10 on Friday. The company has a market capitalization of $2.55 billion, a P/E ratio of 20.29, a P/E/G ratio of 2.88 and a beta of 1.03. Payoneer Global Inc. has a 1-year low of $5.03 and a 1-year high of $11.29. The firm’s 50 day simple moving average is $6.91 and its two-hundred day simple moving average is $9.02.

Payoneer Global (NASDAQ:PAYO) last issued its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $246.62 million during the quarter, compared to the consensus estimate of $244.52 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 EPS. On average, sell-side analysts anticipate that Payoneer Global Inc. will post 0.34 earnings per share for the current fiscal year.

Payoneer Global 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.