5 Best Penny Stocks To Buy Now

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1. Payoneer Global Inc. (NASDAQ:PAYO)

Number of Hedge Fund Holders: 37

Payoneer Global Inc. (NASDAQ:PAYO) is one of the best penny stocks to buy according to hedge funds. The payments solutions company in May posted Q1 results. GAAP EPS in the period came in at $0.02, missing estimates by $0.01. Revenue in the quarter jumped 40.2% year over year to $192.01 million, surpassing estimates by $6.4 million.

Payoneer Global Inc. (NASDAQ:PAYO) also upped its 2023 revenue guidance to the range of $810 million – $820 million versus the consensus estimate of $803.79 million.

A total of 37 hedge funds tracked by Insider Monkey had stakes in Payoneer Global Inc. (NASDAQ:PAYO) as of the end of the first quarter of 2023.

You can also take a peek at 20 Countries with the Best Education and Kim Kardashian Stock Portfolio: 8 Stocks to Consider.

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