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

Payoneer Global Inc. (NASDAQ:PAYO) saw a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 10,700,000 shares, a decrease of 17.1% from the July 31st total of 12,910,000 shares. Approximately 3.6% of the shares of the stock are sold short. Based on an average daily volume of 2,880,000 shares, the short-interest ratio is presently 3.7 days.

Payoneer Global Trading Up 0.5 %

NASDAQ:PAYO opened at $7.43 on Friday. The business’s 50-day moving average is $6.02 and its two-hundred day moving average is $5.49. The firm has a market capitalization of $2.77 billion, a PE ratio of 24.77 and a beta of 0.82. Payoneer Global has a 12 month low of $4.22 and a 12 month high of $7.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.09 and a quick ratio of 1.09.

Payoneer Global (NASDAQ:PAYO) last announced its earnings results on Wednesday, August 7th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. The business had revenue of $239.50 million for the quarter, compared to the consensus estimate of $223.12 million. Payoneer Global had a return on equity of 17.56% and a net margin of 13.19%. The company’s revenue was up 15.9% on a year-over-year basis. During the same period last year, the business posted $0.12 EPS. Research analysts predict that Payoneer Global will post 0.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PAYO has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating and set a $9.00 price objective on shares of Payoneer Global in a research note on Thursday, August 8th. Keefe, Bruyette & Woods raised their price target on shares of Payoneer Global from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Needham & Company LLC boosted their price objective on shares of Payoneer Global from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group upped their price objective on shares of Payoneer Global from $6.50 to $8.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Citigroup lifted their target price on shares of Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a research note on Monday, August 12th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $8.25.

Insider Buying and Selling at Payoneer Global

In other news, Director Scott H. Galit sold 150,000 shares of Payoneer Global stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the completion of the transaction, the director now owns 1,809,674 shares of the company’s stock, valued at approximately $12,794,395.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Scott H. Galit sold 352,165 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $5.43, for a total value of $1,912,255.95. Following the sale, the director now owns 2,122,421 shares of the company’s stock, valued at approximately $11,524,746.03. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Scott H. Galit sold 150,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total value of $1,060,500.00. Following the sale, the director now owns 1,809,674 shares in the company, valued at approximately $12,794,395.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,904,155 shares of company stock valued at $10,598,009. Insiders own 5.57% of the company’s stock.

Institutional Trading of Payoneer Global

A number of hedge funds have recently made changes to their positions in PAYO. Xponance Inc. boosted its stake in shares of Payoneer Global by 12.1% in the second quarter. Xponance Inc. now owns 17,928 shares of the company’s stock valued at $99,000 after purchasing an additional 1,942 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its position in Payoneer Global by 27.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock valued at $46,000 after buying an additional 2,074 shares during the last quarter. Yousif Capital Management LLC boosted its position in Payoneer Global by 1.8% in the 4th quarter. Yousif Capital Management LLC now owns 129,060 shares of the company’s stock valued at $672,000 after buying an additional 2,320 shares during the last quarter. Y.D. More Investments Ltd grew its stake in shares of Payoneer Global by 11.7% during the second quarter. Y.D. More Investments Ltd now owns 22,142 shares of the company’s stock valued at $122,000 after acquiring an additional 2,328 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its position in shares of Payoneer Global by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 227,988 shares of the company’s stock worth $1,108,000 after acquiring an additional 2,958 shares during the last quarter. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Payoneer Global Company 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.