Payoneer Global (NASDAQ:PAYO) Shares Gap Down on Disappointing 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 trading hands.

The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PAYO. Citigroup lifted their price target 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. Benchmark lifted their price target on shares of Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Needham & Company LLC lifted their price target on shares of Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Wolfe Research downgraded shares of Payoneer Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Payoneer Global from $12.00 to $11.00 and set a “market perform” rating for the company in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Insider Activity at Payoneer Global

In related news, insider Tsafi Goldman sold 96,350 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $10.07, for a total value of $970,244.50. Following the sale, the insider now directly owns 741,748 shares of the company’s stock, valued at $7,469,402.36. This represents a 11.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Beatrice Ordonez sold 85,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $10.40, for a total transaction of $884,000.00. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold 445,223 shares of company stock valued at $4,519,362 over the last ninety days. Corporate insiders own 5.57% of the company’s stock.

Institutional Trading of Payoneer Global

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in Payoneer Global during the fourth quarter valued at $29,000. Smartleaf Asset Management LLC grew its position in shares of Payoneer Global by 405.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company’s stock worth $38,000 after acquiring an additional 3,064 shares during the last quarter. Blue Trust Inc. grew its position in shares of Payoneer Global by 135.2% during the third quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock worth $33,000 after acquiring an additional 2,552 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Payoneer Global by 29.3% during the fourth quarter. Fifth Third Bancorp now owns 4,488 shares of the company’s stock worth $45,000 after acquiring an additional 1,016 shares during 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 acquiring an additional 2,425 shares during the last quarter. Institutional investors own 82.22% of the company’s stock.

Payoneer Global Stock Down 12.5 %

The firm’s 50-day moving average price is $10.33 and its 200 day moving average price is $9.23. The firm has a market cap of $3.18 billion, a P/E ratio of 24.97, a price-to-earnings-growth ratio of 2.88 and a beta of 0.93.

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.