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

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

Payoneer Global Trading Down 1.0 %

PAYO traded down $0.08 during trading on Thursday, hitting $7.56. 652,387 shares of the company’s stock were exchanged, compared to its average volume of 2,725,403. Payoneer Global has a 1 year low of $4.56 and a 1 year high of $11.29. The stock has a 50 day moving average price of $9.59 and a 200 day moving average price of $9.29. The firm has a market cap of $2.72 billion, a P/E ratio of 21.59, a price-to-earnings-growth ratio of 2.88 and a beta of 0.97.

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

Insider Activity

In related news, insider Tsafi Goldman sold 96,350 shares of Payoneer Global 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 sale, the insider now directly owns 741,748 shares in the company, valued at $7,469,402.36. The trade was a 11.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Beatrice Ordonez sold 85,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $10.40, for a total transaction of $884,000.00. Following the sale, the chief financial officer now 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. Insiders own 5.57% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

Several hedge funds have recently modified their holdings of PAYO. California State Teachers Retirement System raised its stake in shares of Payoneer Global by 2.3% during the fourth quarter. California State Teachers Retirement System now owns 284,558 shares of the company’s stock valued at $2,857,000 after purchasing an additional 6,350 shares during the period. Forum Financial Management LP acquired a new stake in Payoneer Global during the 4th quarter valued at $122,000. Neo Ivy Capital Management purchased a new stake in Payoneer Global during the 4th quarter worth $1,543,000. Castleark Management LLC acquired a new position in Payoneer Global in the 4th quarter worth $6,067,000. Finally, PharVision Advisers LLC acquired a new position in Payoneer Global in the 4th quarter worth $125,000. 82.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PAYO shares. Keefe, Bruyette & Woods decreased their target price on shares of Payoneer Global from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Friday, February 28th. Wolfe Research downgraded Payoneer Global from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft began coverage on Payoneer Global in a research note on Monday, February 3rd. They issued a “buy” rating and a $13.00 price target on the stock. Citigroup upped their price objective on shares of Payoneer Global from $14.50 to $16.50 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, Northland Securities boosted their target price on shares of Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Two 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. Based on data from MarketBeat, Payoneer Global presently has a consensus rating of “Moderate Buy” and an average price target of $13.07.

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.