Harbor Capital Advisors Inc., an institutional investor, recently acquired a new stake in Payoneer Global Inc. (NASDAQ:PAYO) during the second quarter of this year. According to the company’s disclosure with the Securities & Exchange Commission, Harbor Capital Advisors purchased 175,901 shares of Payoneer Global stock, valued at approximately $846,000.
Payoneer Global released its quarterly earnings results on August 8th. The company reported earnings per share (EPS) of $0.12 for the quarter, surpassing analysts’ consensus estimates of $0.03 by $0.09. During this period, Payoneer reported revenue of $206.70 million as compared to analyst estimates of $197.24 million. Notably, the company’s quarterly revenue saw a significant increase of 39.5% when compared to the same quarter last year.
In terms of financial performance indicators, Payoneer Global exhibited a return on equity (ROE) of 4.36% and a net margin of 2.28%. In contrast to the prior year’s data where they posted ($0.02) EPS for the same period.
Industry experts predict that Payoneer Global Inc. will achieve 0.22 earnings per share for the current fiscal year.
Two significant insider transactions have also taken place recently within Payoneer Global Inc.:
1) Tsafi Goldman sold 35,375 shares on September 14th at an average price of $6.19 per share, resulting in a total value of $218,971.
2) Director Avi Zeevi sold 150,000 shares on September 15th at an average price of $6.20 per share amounting to a total transaction value of $930,000.
As a result of these transactions, Goldman now owns approximately 730,468 shares valued at around $4,521,597 and Zeevi owns 577,544 shares valued at approximately $3,580,773.
These insider transactions were disclosed in legal filings with the Securities & Exchange Commission and are publicly available for review. In the last three months, insiders have sold a total of 228,234 shares worth $1,404,906. Insiders currently own 5.57% of Payoneer Global Inc.’s stock.
As of September 19, 2023, these developments showcase the recent activities and financial performance of Harbor Capital Advisors Inc., Payoneer Global Inc., and their stakeholders.
Zoom Video Communications, Inc.
ZM
Buy
Updated on: 19/09/2023
Financial Health
Healthy
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Institutional Investors and Hedge Funds Show Increasing Interest in Payoneer Global
On September 19, 2023, several institutional investors and hedge funds made significant changes to their positions in Payoneer Global. BlackRock Inc., for example, increased its holdings in the company by 0.8% during the first quarter, acquiring an additional 251,275 shares. As a result, BlackRock Inc. now owns 32,266,447 shares of Payoneer Global valued at $202,633,000.
Similarly, Vanguard Group Inc. boosted its holdings in Payoneer Global by an impressive 191.4% during the first quarter. The company acquired an additional 16,940,356 shares and now owns a total of 25,792,530 shares valued at $115,035,000.
Susquehanna International Group LLP took a significant leap in its holdings of Payoneer Global during the first quarter as well. Their holdings increased by a staggering 85,862.0%. With this boost in their position, Susquehanna International Group LLP now owns 18,819,651 shares worth $118,187,000.
Price T Rowe Associates Inc. MD also saw a notable increase in its holdings of Payoneer Global during the second quarter. Their holdings rose by 9.7%, with an additional 1,383,186 shares added to their portfolio. Price T Rowe Associates Inc. MD currently holds approximately 15,601,619 shares valued at $61,158.
Finally,Victory Capital Management Inc witnessed an incredible surge in their holdings of Payoneer Global during the fourth quarter.Their holdings increased by a mind-blowing1 ,272 .2%. As a result Victory Capital Management now owns roughly6 ,033 .115sharesworth33 ,001millon dollars
Overall it is shown that institutional investors and hedge funds collectively own a whopping82 .92%of Payoneer Global’s stock
Shares of PAYO opened at $6.01 on Tuesday. With a market capitalization of $2.16 billion, Payoneer Global Inc. boasts a P/E ratio of 200.33 and a beta of 0.98. The company’s fifty-day moving average is $5.67, while its 200-day moving average stands at $5.41. Over the past year, Payoneer Global has seen a low of $4.02 and a high of $8.04. The business also maintains a quick ratio and current ratio of 1.10, and a debt-to-equity ratio of 0.02.
Several equities analysts have released reports regarding Payoneer Global in recent times as well.Hence Needham & Company LLC, for instance is maintaining its “buy” rating on Payoneer Global, along with a price target of $10 per share according to their report published on August 9th
Additionally Berenberg Bank has also recently coveredThe news agency stating that buy rating using SWOT analysis along with price target set at $7 per shareonthe same date (Monday July 10th)
Another significant update surrounding Payoneer Global came from Citigroup who raised their price target on the stock from$9to$10 , providing further support to the overall growing optimism towards Payoneer Global within the investment community.As such ,it can be concluded that Since six investment analysts have awarded Payoneer Global with positive ratingsaveraging to “Buy”,andwith anestimatedconsensusprice targetof$8 .07 ,
In conclusion, it is evident that Payoneer Global has garnered substantial interest from institutional investors and hedge funds recently.Multiple large players in the industry are either increasing their holdings or initiating new positions in anticipation of growth potential.The positive reports issued by various equities analysts further solidify this sentiment,bolstering investor confidence in the company’s future prospects. As we move forward, all eyes will be on Payoneer Global to see if it can capitalize on this momentum and deliver favorable results for its shareholders.
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