Short Interest in Payoneer Global Inc. (NASDAQ:PAYO) Drops By 13.4%

Payoneer Global Inc. (NASDAQ:PAYO) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 11,290,000 shares, a drop of 13.4% from the February 13th total of 13,030,000 shares. Based on an average daily volume of 3,120,000 shares, the days-to-cover ratio is presently 3.6 days. Currently, 4.2% of the shares of the stock are short sold.

Payoneer Global Stock Up 3.5 %

Shares of PAYO stock traded up $0.26 during trading hours on Wednesday, hitting $7.56. 717,851 shares of the company were exchanged, compared to its average volume of 2,727,397. Payoneer Global has a 1 year low of $4.48 and a 1 year high of $11.29. The firm has a fifty day moving average of $9.64 and a 200 day moving average of $9.30. The firm has a market cap of $2.72 billion, a PE ratio of 21.59, a PEG ratio of 2.88 and a beta of 0.97.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.05 earnings per share 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 firm had revenue of $261.74 million during the quarter, compared to analyst estimates of $242.14 million. During the same period in the prior year, the firm earned $0.05 earnings per share. Analysts expect that Payoneer Global will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Activity

In related news, insider Tsafi Goldman sold 96,350 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $10.07, for a total value of $970,244.50. Following the completion of the transaction, the insider now directly owns 741,748 shares of the company’s stock, valued at $7,469,402.36. This trade represents a 11.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Beatrice Ordonez sold 85,000 shares of Payoneer Global stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $10.40, for a total value of $884,000.00. Following the transaction, the chief financial officer now directly owns 2,305,245 shares of the company’s stock, valued at approximately $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 own 5.57% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

Institutional investors and hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new stake in shares of Payoneer Global during the third quarter valued at approximately $210,000. Royce & Associates LP boosted its position in Payoneer Global by 49.3% in the 3rd quarter. Royce & Associates LP now owns 234,010 shares of the company’s stock valued at $1,762,000 after buying an additional 77,232 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Payoneer Global during the third quarter worth about $415,000. Intech Investment Management LLC acquired a new position in shares of Payoneer Global in the third quarter worth about $458,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Payoneer Global by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,337,156 shares of the company’s stock valued at $17,599,000 after purchasing an additional 67,255 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.