Payoneer Global (NASDAQ:PAYO) Announces Earnings Results, Beats Estimates By $0.11 EPS

Payoneer Global (NASDAQ:PAYOGet Rating) posted its quarterly earnings results on Thursday. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.11, MarketWatch Earnings reports. Payoneer Global had a negative return on equity of 17.36% and a negative net margin of 7.18%. The business had revenue of $136.96 million during the quarter, compared to the consensus estimate of $121.19 million. During the same period last year, the firm earned ($0.31) earnings per share. The company’s revenue for the quarter was up 36.1% compared to the same quarter last year. Payoneer Global updated its FY 2022 guidance to EPS.

NASDAQ PAYO opened at $4.73 on Friday. Payoneer Global has a 1 year low of $3.33 and a 1 year high of $11.20. The business’s fifty day moving average is $4.39 and its two-hundred day moving average is $5.73. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.03.

A number of brokerages have commented on PAYO. Northland Securities decreased their target price on Payoneer Global from $14.00 to $9.00 in a research note on Friday. Zacks Investment Research raised Payoneer Global from a “strong sell” rating to a “hold” rating in a report on Thursday, May 5th. Citigroup lifted their price target on Payoneer Global from $6.50 to $7.50 in a report on Friday. Finally, Needham & Company LLC cut their price target on Payoneer Global from $13.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, March 4th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $10.00.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in shares of Payoneer Global by 50.0% in the third quarter. Royal Bank of Canada now owns 6,000 shares of the company’s stock valued at $51,000 after buying an additional 2,000 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Payoneer Global by 10.9% in the first quarter. JPMorgan Chase & Co. now owns 59,049 shares of the company’s stock valued at $263,000 after buying an additional 5,804 shares in the last quarter. Deutsche Bank AG bought a new position in shares of Payoneer Global in the fourth quarter valued at $87,000. XTX Topco Ltd bought a new position in shares of Payoneer Global in the first quarter valued at $54,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Payoneer Global by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 941,931 shares of the company’s stock valued at $6,924,000 after buying an additional 13,080 shares in the last quarter. 66.30% of the stock is currently owned by institutional investors.

About Payoneer Global (Get Rating)

Payoneer Global Inc operates a payment and commerce-enabling platform that facilitates marketplaces, platforms and online merchants worldwide. It delivers a suite of services that includes cross-border payments, B2B accounts payable/accounts receivable, multi-currency account, physical and virtual Mastercard cards, working capital, merchant, tax, compliance and risk, and others.

Further Reading

Earnings History for Payoneer Global (NASDAQ:PAYO)

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