Payoneer Global (NASDAQ:PAYO) Shares Down 4.9% on Analyst Downgrade

Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report) shares were down 4.9% during trading on Tuesday after Benchmark lowered their price target on the stock from $12.00 to $10.00. Benchmark currently has a buy rating on the stock. Payoneer Global traded as low as $5.49 and last traded at $5.4950. Approximately 440,982 shares changed hands during trading, a decline of 86% from the average daily volume of 3,224,341 shares. The stock had previously closed at $5.78.3 Top Stocks Crushing Q3 Earnings With Strong 2024 GuidancePAYO has been the subject of several other research reports. Jefferies Financial Group set a $7.00 price objective on shares of Payoneer Global in a research report on Wednesday, November 5th. Needham & Company LLC reissued a "buy" rating and issued a $10.00 price objective on shares of Payoneer Global in a research note on Monday, October 6th. Wall Street Zen upgraded Payoneer Global from a "sell" rating to a "hold" rating in a report on Saturday, November 8th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Payoneer Global in a report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $9.00.Get Payoneer Global alerts:View Our Latest Stock Report on Payoneer GlobalInstitutional Trading of Payoneer GlobalThese 7 Stocks Surged Double-Digits and Have Double-Digits to GoA number of hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC bought a new position in Payoneer Global in the 1st quarter valued at $194,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Payoneer Global during the first quarter worth about $34,000. Price T Rowe Associates Inc. MD raised its position in Payoneer Global by 3.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,970,295 shares of the company's stock worth $65,574,000 after acquiring an additional 260,306 shares during the period. Ieq Capital LLC raised its position in Payoneer Global by 24.4% in the first quarter. Ieq Capital LLC now owns 86,385 shares of the company's stock worth $631,000 after acquiring an additional 16,947 shares during the period. Finally, OMERS ADMINISTRATION Corp boosted its stake in Payoneer Global by 665.3% in the first quarter. OMERS ADMINISTRATION Corp now owns 262,500 shares of the company's stock valued at $1,919,000 after acquiring an additional 228,200 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors. Payoneer Global Trading Down 4.8%The stock's 50-day moving average price is $5.75 and its two-hundred day moving average price is $6.33. The stock has a market capitalization of $1.96 billion, a P/E ratio of 28.92, a P/E/G ratio of 7.85 and a beta of 1.00. Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $270.85 million during the quarter, compared to analysts' expectations of $262.66 million. Payoneer Global had a net margin of 6.96% and a return on equity of 10.71%. Payoneer Global's revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.11 EPS. On average, equities research analysts predict that Payoneer Global Inc. will post 0.34 earnings per share for the current year. Payoneer Global Company Profile (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.See AlsoFive stocks we like better than Payoneer GlobalDo not delete, read immediatelyINVESTOR ALERT: Tiny “$3 AI Wonder Stock” on the Verge of Blasting OffCan Any Expenses Be Deducted From Capital Gains Tax?Buffett, Gates and Bezos Quietly Dumping Stocks—Here's WhyElon Warns “America Is Broke”. Trump’s Plan Inside.This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Payoneer Global Right Now?Before you consider Payoneer Global, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Payoneer Global wasn't on the list.While Payoneer Global currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here