Payoneer Global (NASDAQ:PAYO) Shares Cross Above 50 Day Moving Average – Should You Sell?

Payoneer Global Inc. (NASDAQ:PAYO)’s share price passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $7.13 and traded as high as $7.15. Payoneer Global shares last traded at $7.15, with a volume of 2,766,436 shares.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Weiss Ratings raised shares of Payoneer Global from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft downgraded shares of Payoneer Global from a “buy” rating to a “hold” rating in a report on Friday, August 7th. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.40.

Payoneer Global Price Performance

The firm’s 50 day moving average price is $7.13 and its 200-day moving average price is $6.13. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 51.08, a P/E/G ratio of 1.82 and a beta of 0.88.

Payoneer Global (NASDAQ:PAYO) last released its earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.07). Payoneer Global had a net margin of 4.65% and a return on equity of 9.97%. The company had revenue of $274.26 million for the quarter, compared to analyst estimates of $270.98 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. Payoneer Global’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts expect that Payoneer Global Inc. will post 0.16 EPS for the current year.

Hedge Funds Weigh In On Payoneer Global

Several large investors have recently added to or reduced their stakes in the company. Leonteq Securities AG boosted its position in shares of Payoneer Global by 72.0% during the 1st quarter. Leonteq Securities AG now owns 6,496 shares of the company’s stock valued at $31,000 after acquiring an additional 2,720 shares in the last quarter. Nykredit A S acquired a new position in Payoneer Global in the second quarter worth about $39,000. GAMMA Investing LLC raised its position in Payoneer Global by 73.8% in the second quarter. GAMMA Investing LLC now owns 5,777 shares of the company’s stock worth $41,000 after purchasing an additional 2,453 shares in the last quarter. Resonant Capital Advisors LLC acquired a new position in Payoneer Global in the first quarter worth about $49,000. Finally, State of Wyoming bought a new position in Payoneer Global during the first quarter worth about $57,000. Institutional investors and hedge funds own 82.22% of the company’s stock.

About Payoneer Global

Payoneer Global Inc (NASDAQ: PAYO) operates a global financial technology platform that helps businesses, online marketplaces, freelancers and other professionals send, receive and manage payments across borders. Its services are designed to support companies that operate internationally, including small and medium-sized businesses and digital commerce participants.

The company provides multi-currency receiving accounts, cross-border payouts, supplier and contractor payments, currency conversion and other business payment tools.