Payoneer Global (NASDAQ:PAYO) Sets New 52-Week High – Still a Buy?

Payoneer Global Inc. (NASDAQ:PAYO)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $8.59 and last traded at $8.59, with a volume of 399048 shares changing hands. The stock had previously closed at $8.47.

Analysts Set New Price Targets

A number of research analysts have weighed in on PAYO shares. Cantor Fitzgerald upgraded Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Needham & Company LLC upped their price target on Payoneer Global from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Northland Securities increased their price objective on Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Citigroup raised their price objective on Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, The Goldman Sachs Group upped their target price on shares of Payoneer Global from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Payoneer Global presently has a consensus rating of “Buy” and an average target price of $8.93.

Payoneer Global Price Performance

The business has a 50 day moving average price of $7.60 and a 200 day moving average price of $6.32. The stock has a market capitalization of $3.18 billion, a PE ratio of 28.23 and a beta of 0.85.

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

Insider Buying and Selling

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 shares were sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the completion of the sale, the director now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Itai Perry sold 3,900 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $8.00, for a total value of $31,200.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Scott H. Galit sold 150,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 1,809,674 shares of the company’s stock, valued at $12,794,395.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 158,000 shares of company stock worth $1,124,500. 5.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP bought a new position in Payoneer Global in the 2nd quarter worth $29,000. Blue Trust Inc. grew its stake in shares of Payoneer Global by 135.2% during the 3rd quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock valued at $33,000 after acquiring an additional 2,552 shares during the period. SageView Advisory Group LLC purchased a new stake in Payoneer Global in the 1st quarter worth approximately $39,000. GAMMA Investing LLC raised its stake in Payoneer Global by 438.5% during the 3rd quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock worth $44,000 after acquiring an additional 4,736 shares during the period. Finally, Sage Rhino Capital LLC purchased a new position in Payoneer Global during the second quarter valued at approximately $56,000. Hedge funds and other institutional investors 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.