Payoneer Global (NASDAQ:PAYO) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Payoneer Global (NASDAQ:PAYO) posted its quarterly earnings data on Tuesday. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07, Briefing.com reports. The business had revenue of $248.30 million during the quarter, compared to analysts’ expectations of $225.44 million. Payoneer Global had a net margin of 11.25% and a return on equity of 15.28%. Payoneer Global’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 earnings per share. Payoneer Global updated its FY 2024 guidance to EPS.

Payoneer Global Stock Performance

PAYO stock traded up $0.33 during midday trading on Thursday, reaching $10.68. The company’s stock had a trading volume of 4,421,226 shares, compared to its average volume of 2,690,770. The stock has a fifty day simple moving average of $7.88 and a two-hundred day simple moving average of $6.52. Payoneer Global has a 1 year low of $4.22 and a 1 year high of $10.74. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 38.33 and a beta of 0.82.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald upgraded shares of Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Citigroup boosted their price target on shares of Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a research note on Monday, August 12th. Benchmark boosted their price target on shares of Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC lifted their price objective on shares of Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Northland Securities boosted their price target on shares of Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Payoneer Global presently has a consensus rating of “Buy” and an average price target of $10.79.

Insider Transactions at Payoneer Global

In related news, CAO Itai Perry sold 4,100 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $8.00, for a total transaction of $32,800.00. Following the sale, the chief accounting officer now owns 228,738 shares of the company’s stock, valued at $1,829,904. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Payoneer Global news, Director Scott H. Galit sold 150,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the transaction, the director now owns 1,809,674 shares of the company’s stock, valued at approximately $12,794,395.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Itai Perry sold 4,100 shares of Payoneer Global stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $8.00, for a total value of $32,800.00. Following the completion of the sale, the chief accounting officer now owns 228,738 shares in the company, valued at $1,829,904. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,000 shares of company stock valued at $1,124,500. 5.57% of the stock is currently owned by corporate insiders.

Payoneer Global Company Profile

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.