Payoneer Global Inc. (NASDAQ:PAYO) Sees Large Decrease in Short Interest

Payoneer Global Inc. (NASDAQ:PAYO) was the target of a large drop in short interest in March. As of March 13th, there was short interest totaling 11,214,537 shares, a drop of 18.0% from the February 26th total of 13,670,906 shares. Currently, 3.3% of the shares of the stock are sold short. Based on an average daily volume of 4,694,280 shares, the days-to-cover ratio is currently 2.4 days.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wall Street Zen lowered shares of Payoneer Global from a “hold” rating to a “sell” rating in a research report on Saturday. Bank of America started coverage on shares of Payoneer Global in a report on Wednesday, March 25th. They set a “buy” rating and a $6.00 price objective for the company. Benchmark cut their target price on shares of Payoneer Global from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Keefe, Bruyette & Woods reduced their target price on Payoneer Global from $7.50 to $7.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Finally, Needham & Company LLC decreased their price target on Payoneer Global from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Payoneer Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.75.

Payoneer Global Trading Up 1.3%

Shares of PAYO traded up $0.06 during trading hours on Tuesday, hitting $4.83. 2,810,741 shares of the stock traded hands, compared to its average volume of 4,402,935. The business has a fifty day moving average of $5.25 and a 200-day moving average of $5.62. The firm has a market capitalization of $1.67 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 0.60 and a beta of 1.09. Payoneer Global has a 1-year low of $4.08 and a 1-year high of $7.66.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Payoneer Global had a return on equity of 10.89% and a net margin of 6.95%.The firm had revenue of $274.69 million during the quarter, compared to analyst estimates of $282.79 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. Payoneer Global’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities research analysts expect that Payoneer Global will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Payoneer Global

Large investors have recently bought and sold shares of the business. Osaic Holdings Inc. grew its holdings in Payoneer Global by 246.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock worth $33,000 after acquiring an additional 3,298 shares during the period. CWM LLC raised its position in shares of Payoneer Global by 178.6% during the 4th quarter. CWM LLC now owns 9,384 shares of the company’s stock valued at $53,000 after acquiring an additional 6,016 shares during the last quarter. Vident Advisory LLC acquired a new position in shares of Payoneer Global in the 4th quarter valued at $58,000. Empowered Funds LLC acquired a new position in shares of Payoneer Global in the 4th quarter valued at $63,000. Finally, Quarry LP boosted its position in shares of Payoneer Global by 9,273.2% in the 3rd quarter. Quarry LP now owns 10,498 shares of the company’s stock worth $64,000 after purchasing an additional 10,386 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Payoneer Global Company Profile

Payoneer Global (NASDAQ: PAYO) operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company’s core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.