Shares of Payoneer Global Inc. (NASDAQ:PAYO) have received a consensus recommendation of “Moderate Buy” from nine analysts currently covering the stock, according to data from MarketBeat.com. Out of these analysts, two have rated the stock as a hold, while seven have issued buy recommendations. The average twelve-month price target across brokerages that have evaluated the stock in the past year is set at $9.00.
Analysts have expressed varied opinions about Payoneer Global, with several reports highlighting different price objectives. On October 6, 2023, Needham & Company LLC reaffirmed a buy rating and set a price target of $10.00. Just a month earlier, on November 5, 2023, Jefferies Financial Group established a price objective of $7.00. Meanwhile, Benchmark adjusted their price target down from $12.00 to $10.00 while maintaining a buy rating in a report dated December 23, 2023. Additionally, Weiss Ratings reiterated a “hold (c)” rating for the shares on October 8, 2023.
Recent Earnings Performance
On November 5, 2023, Payoneer Global reported its quarterly earnings, revealing an earnings per share (EPS) of $0.04. This figure fell short of the consensus estimate of $0.06 by $0.02. Despite this setback, the company achieved a net revenue of $270.85 million for the quarter, exceeding the anticipated $262.66 million. In comparison to the same quarter last year, where the firm earned $0.11 per share, this year’s revenue marks a year-over-year increase of 9.1%. Analysts forecast that Payoneer Global will attain an EPS of $0.34 for the current fiscal year.
Institutional Investor Activity
Recent shifts in holdings by institutional investors and hedge funds indicate increased interest in Payoneer Global. Tudor Investment Corp ET AL increased its stake in the company by 15.8% during the third quarter, now holding 1,065,357 shares valued at approximately $6.45 million after acquiring an additional 145,084 shares. Other notable purchases include Swiss Life Asset Management Ltd, which bought shares valued at around $80,000, and CIBC Bancorp USA Inc., which acquired a position worth $180,000.
Additionally, PharVision Advisers LLC took a new stake valued at $332,000, while XTX Topco Ltd significantly increased its position by 86.0%, now owning 93,101 shares valued at $563,000. Currently, institutional investors and hedge funds own approximately 82.22% of the company’s stock.
About Payoneer Global: Founded in 2005, Payoneer Global operates a digital payments platform designed for businesses, marketplaces, and professionals to facilitate cross-border payments. The company provides multi-currency receiving accounts, mass payout services, and working capital solutions, enabling seamless transactions in over 150 currencies. With a client base spanning more than 200 countries and territories, Payoneer has evolved from a small fintech startup into a prominent payments infrastructure provider.
