Payoneer Global (NASDAQ:PAYO) Price Target Raised to $12.00

Payoneer Global (NASDAQ:PAYO) had its price target lifted by Keefe, Bruyette & Woods from $9.00 to $12.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

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

Payoneer Global Trading Up 1.2 %

Shares of PAYO stock traded up $0.13 during trading hours on Wednesday, hitting $10.81. 5,621,316 shares of the company were exchanged, compared to its average volume of 3,185,800. The business has a 50 day moving average of $8.01 and a two-hundred day moving average of $6.59. Payoneer Global has a 52 week low of $4.22 and a 52 week high of $10.90. The company has a market capitalization of $4.13 billion, a PE ratio of 30.89 and a beta of 0.82.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.07. The company had revenue of $248.30 million during the quarter, compared to the consensus estimate of $225.44 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The firm’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 earnings per share. On average, research analysts forecast that Payoneer Global will post 0.29 EPS for the current year.

Insider Buying and Selling

In other news, Director Scott H. Galit sold 150,000 shares of the firm’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 value of $1,060,500.00. Following the completion of the transaction, the director now directly owns 1,809,674 shares in the company, valued at approximately $12,794,395.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Payoneer Global news, Director Scott H. Galit sold 150,000 shares of Payoneer Global 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 completion of the sale, the director now directly owns 1,809,674 shares in the company, valued at $12,794,395.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Itai Perry sold 4,100 shares of Payoneer Global stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $8.00, for a total transaction of $32,800.00. Following the transaction, the chief accounting officer now directly owns 228,738 shares in the company, valued at $1,829,904. 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 90 days, insiders sold 158,000 shares of company stock worth $1,124,500. Insiders own 5.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. AXA S.A. increased its position in Payoneer Global by 1,394.5% during the 2nd quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock valued at $78,538,000 after purchasing an additional 13,227,884 shares during the period. Millennium Management LLC lifted its stake in Payoneer Global by 17.3% during the 2nd quarter. Millennium Management LLC now owns 6,764,016 shares of the company’s stock valued at $37,473,000 after acquiring an additional 995,366 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Payoneer Global by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,790,400 shares of the company’s stock valued at $23,283,000 after acquiring an additional 178,842 shares during the period. Dimensional Fund Advisors LP lifted its stake in Payoneer Global by 22.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,593,005 shares of the company’s stock valued at $25,446,000 after acquiring an additional 849,680 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Payoneer Global by 17.1% during the 2nd quarter. Victory Capital Management Inc. now owns 4,417,785 shares of the company’s stock valued at $24,475,000 after purchasing an additional 645,887 shares during the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.

About Payoneer Global

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.