Payoneer Global (NASDAQ:PAYO) Shares Gap Down Following Weak Earnings

Shares of Payoneer Global Inc. (NASDAQ:PAYO) gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $10.18, but opened at $8.56. Payoneer Global shares last traded at $8.76, with a volume of 2,224,309 shares changing hands.

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 analysts’ expectations of $242.14 million. During the same period last year, the company earned $0.05 EPS.

Analyst Upgrades and Downgrades

PAYO has been the subject of a number of analyst reports. Wolfe Research cut Payoneer Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Benchmark boosted their target price on shares of Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Northland Securities raised their price target on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Needham & Company LLC boosted their price target on Payoneer Global from $10.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Citigroup increased their price objective on shares of Payoneer Global from $8.50 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Insider Activity at Payoneer Global

In other news, CFO Beatrice Ordonez sold 85,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $10.40, for a total value of $884,000.00. Following the completion of the sale, the chief financial officer now owns 2,305,245 shares in the company, valued at approximately $23,974,548. This trade represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tsafi Goldman sold 263,873 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $10.10, for a total value of $2,665,117.30. Following the sale, the insider now owns 741,748 shares in the company, valued at approximately $7,491,654.80. The trade was a 26.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 445,223 shares of company stock worth $4,519,362. Corporate insiders own 5.57% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP purchased a new position in Payoneer Global in the 4th quarter valued at about $29,000. Blue Trust Inc. increased its holdings in Payoneer Global by 135.2% during the 3rd quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock worth $33,000 after purchasing an additional 2,552 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Payoneer Global by 405.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company’s stock worth $38,000 after purchasing an additional 3,064 shares during the last quarter. Fifth Third Bancorp raised its position 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 valued at $45,000 after purchasing an additional 1,016 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Payoneer Global by 41.7% during the fourth quarter. GAMMA Investing LLC now owns 8,241 shares of the company’s stock worth $83,000 after buying an additional 2,425 shares in the last quarter. 82.22% of the stock is currently owned by hedge funds and other institutional investors.

Payoneer Global Stock Down 14.7 %

The firm has a market cap of $3.10 billion, a P/E ratio of 24.80, a price-to-earnings-growth ratio of 2.88 and a beta of 0.93. The business’s 50 day moving average is $10.30 and its 200-day moving average is $9.23.

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.