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

Payoneer Global Inc. (NASDAQ:PAYO) was the target of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 11,290,000 shares, a decline of 13.4% from the February 13th total of 13,030,000 shares. Based on an average trading volume of 3,120,000 shares, the short-interest ratio is currently 3.6 days. Currently, 4.2% of the company’s shares are short sold.

Payoneer Global Stock Performance

NASDAQ:PAYO opened at $7.56 on Friday. Payoneer Global has a 1 year low of $4.60 and a 1 year high of $11.29. The stock has a market cap of $2.72 billion, a P/E ratio of 21.60, a P/E/G ratio of 2.88 and a beta of 0.97. The stock has a 50-day simple moving average of $9.54 and a 200-day simple moving average of $9.28.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the company earned $0.05 earnings per share. On average, equities research analysts predict that Payoneer Global will post 0.34 EPS for the current year.

Insider Activity

In other Payoneer Global news, CFO Beatrice Ordonez sold 85,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $10.40, for a total transaction of $884,000.00. Following the sale, the chief financial officer now directly owns 2,305,245 shares in the company, valued at $23,974,548. This represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tsafi Goldman sold 96,350 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $10.07, for a total transaction of $970,244.50. Following the sale, the insider now directly owns 741,748 shares in the company, valued at $7,469,402.36. This represents a 11.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.57% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

A number of institutional investors and hedge funds have recently bought and sold shares of PAYO. Susquehanna Capital Management LLC grew its holdings in shares of Payoneer Global by 290.3% during the fourth quarter. Susquehanna Capital Management LLC now owns 25,268,954 shares of the company’s stock worth $253,700,000 after purchasing an additional 18,794,047 shares during the last quarter. Azora Capital LP purchased a new stake in Payoneer Global in the third quarter valued at approximately $31,901,000. Arrowstreet Capital Limited Partnership raised its position in Payoneer Global by 200.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,470,347 shares of the company’s stock valued at $34,842,000 after purchasing an additional 2,313,481 shares during the last quarter. Deutsche Bank AG boosted its stake in Payoneer Global by 252.8% during the 4th quarter. Deutsche Bank AG now owns 2,779,110 shares of the company’s stock worth $27,902,000 after purchasing an additional 1,991,449 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in Payoneer Global during the 4th quarter worth $19,305,000. 82.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PAYO has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their price target on shares of Payoneer Global from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Friday, February 28th. Wolfe Research lowered Payoneer Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Northland Securities upped their price target on Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Citigroup increased their price target on Payoneer Global from $14.50 to $16.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Payoneer Global in a research report on Monday, February 3rd. They set a “buy” rating and a $13.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Payoneer Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.07.

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.