In this article, we discuss the 5 stocks skyrocketing on Friday. If you want to check out some more stocks rallying today, go directly to Why These 10 Stocks are Skyrocketing on Friday.
5. Payoneer Global Inc. (NASDAQ:PAYO)
Number of Hedge Fund Holders: 27
Shares of Payoneer Global Inc. (NASDAQ:PAYO) skyrocketed over 25 percent after the opening bell on Friday after beating financial expectations for the second quarter with a big margin.
Payoneer Global Inc. (NASDAQ:PAYO) reported earnings of 1 cent per share, contrary to analysts’ expectations for a loss of 4 cents per share. Revenue for the quarter climbed 34 percent on a year-over-year basis to $148.2 million, easily exceeding the consensus of $131.48 million.
Moreover, Payoneer Global Inc. (NASDAQ:PAYO) also raised its full-year revenue outlook to a range of $580 – $590 million, from its previous projection of $550 – $560 million.