Wall Street brokers are waiting for Payoneer Global Inc. (NASDAQ: PAYO – Get a rating) to post sales of $126.47 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates of Payoneer Global’s earnings, with the highest sales estimate of $128.10 million and the lowest estimate of $124.85 million. Payoneer Global reported sales of $110.93 million in the same quarter last year, indicating a positive year-over-year growth rate of 14%. The company is expected to release its next quarterly earnings report on Monday, January 1.
On average, analysts expect Payoneer Global to record annual sales of $555.23 million for the current fiscal year, with estimates ranging from $554.96 million to $555.50 million. For the next fiscal year, analysts expect the company to post sales of $659.80 million. Zacks sales averages are an average average based on a survey of research companies that track Payoneer Global.
Global Payoneer (NASDAQ: PAYO – Get a rating) last reported results on Thursday, May 12. The company reported earnings per share of $0.06 for the quarter, beating analyst consensus estimates of ($0.05) by $0.11. The company posted revenue of $136.96 million in the quarter, versus a consensus estimate of $121.19 million. Payoneer Global had a negative return on equity of 14.21% and a negative net margin of 2.01%. Payoneer Global’s quarterly revenue increased 36.1% compared to the same quarter last year. During the same quarter of the previous year, the company posted EPS ($0.31).
A number of analysts have weighed in on PAYO shares recently. Northland Securities lowered its target price on Payoneer Global from $14.00 to $9.00 in a Friday, May 13 research report. Needham & Company LLC lowered its price target on Payoneer Global from $13.00 to $7.00 and set a “Buy” rating for the company in a Friday, March 4 research report. Citigroup raised its price target on Payoneer Global from $6.50 to $7.50 in a Friday, May 13 research note. To finish, Zacks Investment Research upgraded Payoneer Global from a “strong sell” rating to a “hold” rating in a Thursday, May 5 research note. Two research analysts gave the stock a hold rating and five gave the stock a buy rating. According to data from MarketBeat, Payoneer Global currently has an average rating of “Buy” and a consensus price target of $10.00.
Institutional investors have recently changed their positions in the company. Advisor Group Holdings Inc. increased its holdings of Payoneer Global shares by 101.5% during the third quarter. Advisor Group Holdings Inc. now owns 3,970 shares of the company valued at $35,000 after acquiring 2,000 additional shares in the last quarter. Assetmark Inc. bought a new position in Payoneer Global during Q3 worth $39,000. Royal Bank of Canada bought a new position in Payoneer Global in Q2 worth $41,000. Migdal Insurance & Financial Holdings Ltd. increased its position in Payoneer Global shares by 1,622.5% in Q4. Migdal Insurance & Financial Holdings Ltd. now owns 6,976 shares of the company worth $50,000 after purchasing an additional 6,571 shares during the period. Finally, Walleye Capital LLC purchased a new equity stake in Payoneer Global in Q1 worth approximately $50,000. 66.30% of the shares are currently held by institutional investors and hedge funds.
NASDAQ: PAYO opened at $4.71 on Friday. The company has a 50-day moving average of $4.43 and a 200-day moving average of $5.63. The company has a market capitalization of $1.61 billion, a price-earnings ratio of -7.48 and a beta of 0.64. Payoneer Global has a 1-year low of $3.33 and a 1-year high of $11.20. The company has a debt ratio of 0.03, a current ratio of 1.10 and a quick ratio of 1.10.
Payoneer Global Company Profile (Get a rating)
Payoneer Global Inc operates a payment and commerce platform that facilitates online marketplaces, platforms and merchants worldwide. It offers a suite of services that includes cross-border payments, B2B accounts payable/receivable, multi-currency accounts, physical and virtual Mastercard, working capital, merchant, tax, compliance and risk, and more.
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