Comerica Bank Trims Stock Position in Payoneer Global Inc. (NASDAQ:PAYO)

Comerica Bank lessened its stake in Payoneer Global Inc. (NASDAQ:PAYO) by 39.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,652 shares of the company’s stock after selling 59,436 shares during the period. Comerica Bank’s holdings in Payoneer Global were worth $900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in PAYO. Robeco Institutional Asset Management B.V. purchased a new position in Payoneer Global during the 4th quarter worth $1,233,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Payoneer Global during the fourth quarter worth about $1,276,000. Entropy Technologies LP acquired a new position in Payoneer Global in the 4th quarter valued at about $540,000. Allspring Global Investments Holdings LLC increased its position in Payoneer Global by 133.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 97,538 shares of the company’s stock valued at $990,000 after acquiring an additional 55,766 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Payoneer Global during the 4th quarter valued at approximately $1,809,000. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PAYO shares. Needham & Company LLC lowered their target price on Payoneer Global from $14.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Payoneer Global in a research report on Monday, February 3rd. They issued a “buy” rating and a $13.00 price objective on the stock. Keefe, Bruyette & Woods upgraded shares of Payoneer Global from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $7.00 to $9.00 in a research report on Tuesday. The Goldman Sachs Group reduced their target price on shares of Payoneer Global from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Finally, Citigroup boosted their price target on shares of Payoneer Global from $14.50 to $16.50 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $11.64.

Payoneer Global Price Performance

Shares of PAYO stock opened at $7.46 on Wednesday. The business’s fifty day moving average price is $6.91 and its 200 day moving average price is $9.04. The firm has a market capitalization of $2.68 billion, a PE ratio of 21.31, a P/E/G ratio of 2.88 and a beta of 1.03. Payoneer Global Inc. has a 1-year low of $5.03 and a 1-year high of $11.29.

Payoneer Global (NASDAQ:PAYO) last issued its earnings results on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The company had revenue of $246.62 million for the quarter, compared to analysts’ expectations of $244.52 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. Payoneer Global’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts expect that Payoneer Global Inc. will post 0.34 earnings per share for the current fiscal year.

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.