Keefe, Bruyette & Woods Cuts Payoneer Global (NASDAQ:PAYO) Price Target to $8.00

Payoneer Global (NASDAQ:PAYO) had its price target cut by stock analysts at Keefe, Bruyette & Woods from $10.00 to $8.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 10.34% from the company’s current price.

A number of other brokerages also recently weighed in on PAYO. Deutsche Bank Aktiengesellschaft started coverage on Payoneer Global in a report on Monday, February 3rd. They issued a “buy” rating and a $13.00 target price on the stock. Wolfe Research downgraded shares of Payoneer Global from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Northland Securities lifted their target price on shares of Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Citigroup upped their price target on shares of Payoneer Global from $14.50 to $16.50 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.79.

Payoneer Global Price Performance

PAYO stock opened at $7.25 on Monday. The company’s 50 day simple moving average is $9.21 and its 200-day simple moving average is $9.33. Payoneer Global has a 52-week low of $4.69 and a 52-week high of $11.29. The firm has a market capitalization of $2.61 billion, a P/E ratio of 20.71, a P/E/G ratio of 2.88 and a beta of 0.97.

Payoneer Global (NASDAQ:PAYO) last released its earnings results on Thursday, February 27th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The business had revenue of $261.74 million during the quarter, compared to analysts’ expectations of $242.14 million. During the same quarter in the previous year, the company earned $0.05 EPS. Sell-side analysts predict that Payoneer Global will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Tsafi Goldman sold 96,350 shares of Payoneer Global stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $10.07, for a total value of $970,244.50. Following the transaction, the insider now owns 741,748 shares in the company, valued at $7,469,402.36. This trade represents a 11.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Beatrice Ordonez sold 85,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $10.40, for a total transaction of $884,000.00. Following the sale, the chief financial officer now owns 2,305,245 shares of the company’s stock, valued at $23,974,548. This trade represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.57% of the company’s stock.

Institutional Trading of Payoneer Global

Several hedge funds have recently added to or reduced their stakes in the business. Susquehanna Capital Management LLC lifted its holdings in shares of Payoneer Global by 290.3% during the fourth quarter. Susquehanna Capital Management LLC now owns 25,268,954 shares of the company’s stock worth $253,700,000 after buying an additional 18,794,047 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Payoneer Global by 5.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,709,989 shares of the company’s stock valued at $87,450,000 after purchasing an additional 440,231 shares during the period. American Century Companies Inc. raised its stake in shares of Payoneer Global by 24.8% in the fourth quarter. American Century Companies Inc. now owns 8,166,652 shares of the company’s stock valued at $81,993,000 after purchasing an additional 1,624,948 shares in the last quarter. Geode Capital Management LLC lifted its position in Payoneer Global by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 6,777,377 shares of the company’s stock worth $68,059,000 after purchasing an additional 156,252 shares during the period. Finally, Millennium Management LLC increased its holdings in Payoneer Global by 0.3% in the 4th quarter. Millennium Management LLC now owns 6,523,595 shares of the company’s stock valued at $65,497,000 after buying an additional 21,149 shares during the period. 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.