Payoneer Global (NASDAQ:PAYO) Shares Gap Down – Here’s Why

Shares of Payoneer Global Inc. (NASDAQ:PAYO) gapped down before the market opened on Monday . The stock had previously closed at $10.95, but opened at $10.46. Payoneer Global shares last traded at $10.29, with a volume of 874,343 shares.

Analysts Set New Price Targets

A number of research firms have recently commented on PAYO. Keefe, Bruyette & Woods downgraded Payoneer Global from an “outperform” rating to a “market perform” rating and set a $12.00 price objective for the company. in a report on Monday. Northland Securities upped their price objective on Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Needham & Company LLC upped their price objective on Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Benchmark upped their price objective on Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group increased their price target on Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $11.36.

Payoneer Global Stock Performance

The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 28.94 and a beta of 0.90. The firm has a fifty day moving average of $9.45 and a 200-day moving average of $7.40.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The company had revenue of $248.30 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 19.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 EPS. On average, analysts predict that Payoneer Global Inc. will post 0.32 EPS for the current year.

Insider Buying and Selling at Payoneer Global

In other Payoneer Global news, insider Crossover Managemen Technology sold 7,500,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $10.32, for a total value of $77,400,000.00. Following the completion of the transaction, the insider now directly owns 34,197,116 shares of the company’s stock, valued at $352,914,237.12. This represents a 17.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Itai Perry sold 4,100 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $8.00, for a total transaction of $32,800.00. Following the completion of the transaction, the chief accounting officer now directly owns 228,738 shares of the company’s stock, valued at approximately $1,829,904. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,562,402 shares of company stock valued at $78,043,152 in the last ninety days. Insiders own 5.57% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

Several large investors have recently modified their holdings of PAYO. SG Americas Securities LLC lifted its position in shares of Payoneer Global by 993.8% during the second quarter. SG Americas Securities LLC now owns 169,184 shares of the company’s stock worth $937,000 after purchasing an additional 153,716 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Payoneer Global by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 1,971,622 shares of the company’s stock worth $10,923,000 after acquiring an additional 33,063 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Payoneer Global by 7.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,534 shares of the company’s stock worth $385,000 after acquiring an additional 4,738 shares during the period. Sage Rhino Capital LLC acquired a new stake in Payoneer Global during the second quarter worth about $56,000. Finally, Van ECK Associates Corp raised its stake in Payoneer Global by 4.3% during the second quarter. Van ECK Associates Corp now owns 82,903 shares of the company’s stock worth $459,000 after acquiring an additional 3,444 shares during the period. Institutional investors own 82.22% of the company’s stock.

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.