Payoneer Global (NASDAQ:PAYO) PT Raised to $9.00

Payoneer Global (NASDAQ:PAYO) had its target price hoisted by research analysts at The Goldman Sachs Group from $8.00 to $9.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 14.50% from the stock’s previous close.

A number of other research firms have also weighed in on PAYO. Northland Securities boosted their target price 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. Citigroup boosted their target price on shares of Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, August 12th. Keefe, Bruyette & Woods boosted their target price on shares of Payoneer Global from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Needham & Company LLC boosted their target price on shares of Payoneer Global from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Cantor Fitzgerald raised shares of Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Payoneer Global presently has an average rating of “Buy” and an average target price of $8.79.

Payoneer Global Price Performance

PAYO stock traded down $0.03 during trading on Monday, reaching $7.86. 325,649 shares of the company were exchanged, compared to its average volume of 2,628,437. The company has a 50-day moving average of $7.23 and a two-hundred day moving average of $6.06. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 26.20 and a beta of 0.85. Payoneer Global has a twelve month low of $4.22 and a twelve month high of $8.01.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $239.50 million during the quarter, compared to analysts’ expectations of $223.12 million. Payoneer Global had a net margin of 11.25% and a return on equity of 15.28%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.12 EPS. On average, analysts forecast that Payoneer Global will post 0.25 EPS for the current year.

Insider Activity

In related news, Director Scott H. Galit sold 150,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were 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 in the company, valued at $12,794,395.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Payoneer Global news, CAO Itai Perry sold 3,900 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $8.00, for a total transaction of $31,200.00. Following the transaction, the chief accounting officer now owns 228,738 shares in the company, valued at approximately $1,829,904. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Scott H. Galit sold 150,000 shares of the company’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 in the company, valued at approximately $12,794,395.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,501 shares of company stock valued at $1,150,218. 5.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PAYO. AXA S.A. raised its holdings in Payoneer Global by 1,394.5% during the second quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock worth $78,538,000 after buying an additional 13,227,884 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Payoneer Global by 68.4% in the fourth quarter. Wellington Management Group LLP now owns 7,784,978 shares of the company’s stock valued at $40,014,000 after purchasing an additional 3,161,509 shares during the last quarter. Legion Partners Asset Management LLC purchased a new stake in shares of Payoneer Global in the second quarter valued at about $12,360,000. American Century Companies Inc. raised its holdings in shares of Payoneer Global by 241.5% in the second quarter. American Century Companies Inc. now owns 1,643,744 shares of the company’s stock valued at $9,106,000 after purchasing an additional 1,162,481 shares during the last quarter. Finally, Shell Asset Management Co. purchased a new stake in shares of Payoneer Global in the first quarter valued at about $5,360,000. Institutional investors and hedge funds own 82.22% of the company’s stock.

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.