Payoneer Global (NASDAQ:PAYO) Shares Gap Down – Time to Sell?

Payoneer Global Inc. (NASDAQ:PAYO)’s share price gapped down before the market opened on Friday . The stock had previously closed at $7.56, but opened at $7.21. Payoneer Global shares last traded at $7.44, with a volume of 512,073 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PAYO shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Payoneer Global in a report on Monday, February 3rd. They issued a “buy” rating and a $13.00 price objective for the company. Keefe, Bruyette & Woods reduced their price objective on shares of Payoneer Global from $11.00 to $10.00 and set a “market perform” rating for the company in a report on Friday, February 28th. Citigroup upped their price objective on shares of Payoneer Global from $14.50 to $16.50 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Wolfe Research downgraded shares of Payoneer Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Finally, Northland Securities upped their price objective on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.07.

Payoneer Global Stock Performance

The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 21.44, a P/E/G ratio of 2.88 and a beta of 0.97. The stock’s fifty day simple moving average is $9.54 and its two-hundred day simple moving average is $9.28.

Payoneer Global (NASDAQ:PAYO) last released its earnings results 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). The firm had revenue of $261.74 million during the quarter, compared to analysts’ expectations of $242.14 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. During the same period last year, the business earned $0.05 earnings per share. On average, equities analysts anticipate that Payoneer Global Inc. will post 0.34 EPS for the current fiscal year.

Insider Transactions at Payoneer Global

In related news, insider Tsafi Goldman sold 96,350 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $10.07, for a total transaction of $970,244.50. Following the transaction, the insider now directly owns 741,748 shares of the company’s stock, valued at approximately $7,469,402.36. The trade was a 11.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Beatrice Ordonez sold 85,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 2,305,245 shares in the company, valued at $23,974,548. The trade was a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in Payoneer Global by 21.2% during the fourth quarter. Blue Trust Inc. now owns 5,380 shares of the company’s stock valued at $54,000 after purchasing an additional 940 shares in the last quarter. Maryland State Retirement & Pension System grew its position in Payoneer Global by 1.2% in the fourth quarter. Maryland State Retirement & Pension System now owns 86,467 shares of the company’s stock worth $868,000 after acquiring an additional 1,002 shares in the last quarter. Fifth Third Bancorp grew its position in Payoneer Global by 29.3% in 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 in the last quarter. State of Alaska Department of Revenue grew its position in Payoneer Global by 1.0% in the fourth quarter. State of Alaska Department of Revenue now owns 145,923 shares of the company’s stock worth $1,465,000 after acquiring an additional 1,498 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its position in Payoneer Global by 5.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 30,355 shares of the company’s stock worth $305,000 after acquiring an additional 1,663 shares in the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.

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.