Tikvah Management Sells 400K Shares of Payoneer for $3.77M Reduction
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Fool
- Sale Transaction: Tikvah Management disclosed the sale of 400,000 shares of Payoneer in Q3, valued at approximately $3.77 million, reducing its stake to 2.3%, indicating a cautious outlook on the company's future performance.
- Holding Status: Post-sale, Tikvah retains 1.29 million shares of Payoneer worth about $7.82 million, reflecting ongoing interest in the company, though it ranks as a mid-tier holding compared to larger positions.
- Performance Metrics: Payoneer reported record revenue of $270.9 million in Q3, a 9% year-over-year increase, yet net income plummeted to $14.1 million, highlighting pressures from higher taxes and rising operational costs.
- Market Reaction: Despite strong revenue growth, Payoneer's stock has fallen 44% over the past year, contrasting sharply with the S&P 500's 15% rise, suggesting a lack of market confidence in its earnings potential.
PAYO
$5.56+Infinity%1D
Analyst Views on PAYO
Wall Street analysts forecast PAYO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PAYO is 9.00 USD with a low forecast of 7.00 USD and a high forecast of 12.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
5 Buy
0 Hold
0 Sell
Strong Buy
Current: 5.780
Low
7.00
Averages
9.00
High
12.00
Current: 5.780
Low
7.00
Averages
9.00
High
12.00
About PAYO
Payoneer Global Inc. is a financial technology company that helps small and medium-sized businesses (SMBs) to transact, do business, and grow globally. The Company's financial stack provides a suite of cross-border accounts receivable (AR) and accounts payable (AP) capabilities, including multicurrency account capabilities, and includes services such as working capital and funds management. Its customers include goods exporters selling cross-border to consumers and other businesses, services companies exporting their capabilities to international clients, independent professionals, creators, contractors, and business owners capitalizing on the digitization of the workplace and remote work, vacation rental hosts, and others. Its customers sell their goods or services either via a marketplace or directly to other businesses (B2B), and/or to customers via webstores. The Company serves SMBs located in more than 190 countries and territories and operating in a variety of industries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
