Key Points
- Payoneer CFO Beatrice Ordonez sold 25,000 shares on June 15 at an average price of $7.01, for a total of $175,250. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and her ownership fell by 0.86%.
- Nuvei has agreed to acquire Payoneer for $7.40 per share in cash, valuing the deal at about $2.75 billion. The transaction is intended to create a larger global payments platform with expected annual revenue of roughly $3 billion at closing.
- Payoneer’s stock has been boosted by the takeover news, while several analysts have recently cut the shares to Hold, leaving the consensus rating at Hold with a $7.40 price target. The company most recently beat earnings and revenue estimates, reporting $0.06 EPS and $261.6 million in quarterly revenue.
Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report) CFO Beatrice Ordonez sold 25,000 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $7.01, for a total transaction of $175,250.00. Following the completion of the sale, the chief financial officer owned 2,887,266 shares in the company, valued at approximately $20,239,734.66. This trade represents a 0.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Payoneer Global Trading Down 0.1%
Shares of PAYO opened at $7.02 on Wednesday. The firm has a market cap of $2.35 billion, a P/E ratio of 35.10, a price-to-earnings-growth ratio of 0.75 and a beta of 1.02. Payoneer Global Inc. has a 12-month low of $4.08 and a 12-month high of $7.66. The company's 50-day moving average price is $5.22 and its 200 day moving average price is $5.34.
Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. The firm had revenue of $261.60 million for the quarter, compared to analyst estimates of $255.12 million. Payoneer Global had a net margin of 6.76% and a return on equity of 11.10%. Payoneer Global's revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 EPS. Equities research analysts forecast that Payoneer Global Inc. will post 0.27 earnings per share for the current year.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Needham & Company LLC lowered shares of Payoneer Global from a "buy" rating to a "hold" rating in a report on Monday. Keefe, Bruyette & Woods lowered shares of Payoneer Global from a "moderate buy" rating to a "hold" rating in a report on Monday. William Blair lowered shares of Payoneer Global from an "outperform" rating to a "hold" rating in a report on Monday. Bank of America started coverage on Payoneer Global in a research report on Wednesday, March 25th. They issued a "buy" rating and a $6.00 target price for the company. Finally, Wall Street Zen raised Payoneer Global from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $7.40.
Check Out Our Latest Stock Report on Payoneer Global
Payoneer Global News Summary
Here are the key news stories impacting Payoneer Global this week:
Hedge Funds Weigh In On Payoneer Global
Institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. grew its position in Payoneer Global by 246.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company's stock valued at $33,000 after acquiring an additional 3,298 shares in the last quarter. Leonteq Securities AG grew its position in Payoneer Global by 72.0% in the 1st quarter. Leonteq Securities AG now owns 6,496 shares of the company's stock valued at $31,000 after acquiring an additional 2,720 shares in the last quarter. CWM LLC grew its position in Payoneer Global by 178.6% in the 4th quarter. CWM LLC now owns 9,384 shares of the company's stock valued at $53,000 after acquiring an additional 6,016 shares in the last quarter. Resonant Capital Advisors LLC acquired a new position in Payoneer Global in the 1st quarter valued at about $49,000. Finally, Vident Advisory LLC acquired a new position in Payoneer Global in the 4th quarter valued at about $58,000. 82.22% of the stock is owned by institutional investors and hedge funds.
About Payoneer Global
(
Get Free Report)
Payoneer Global (NASDAQ: PAYO) operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company's core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.
Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.
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