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

Payoneer Global (NASDAQ:PAYO) had its price target lifted by Benchmark from $10.00 to $12.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. 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 research report on Tuesday, September 10th. Keefe, Bruyette & Woods upped their target price on Payoneer Global from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Needham & Company LLC raised their price target on Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup upped their price objective on shares of Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, The Goldman Sachs Group raised their target price on shares of Payoneer Global from $8.00 to $9.00 and gave the company a “buy” rating in a report on Monday, October 14th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Payoneer Global has a consensus rating of “Buy” and an average target price of $10.79.

Payoneer Global Stock Performance

Shares of PAYO opened at $10.81 on Wednesday. The firm has a market cap of $4.13 billion, a P/E ratio of 30.89 and a beta of 0.82. Payoneer Global has a 52 week low of $4.22 and a 52 week high of $10.90. The firm’s 50-day simple moving average is $8.01 and its 200 day simple moving average is $6.60.

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, topping the consensus estimate of $0.04 by $0.07. The firm had revenue of $248.30 million for the quarter, compared to analysts’ expectations of $225.44 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 EPS. As a group, equities analysts forecast that Payoneer Global will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Scott H. Galit sold 150,000 shares of the 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 owns 1,809,674 shares of the company’s stock, valued at $12,794,395.18. 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, CAO Itai Perry sold 4,100 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 228,738 shares in the company, valued at approximately $1,829,904. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,000 shares of company stock valued at $1,124,500. 5.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Payoneer Global

Institutional investors and hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Payoneer Global by 6.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 563,060 shares of the company’s stock worth $2,736,000 after purchasing an additional 33,491 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in Payoneer Global during the 1st quarter worth approximately $313,000. Texas Permanent School Fund Corp increased its position in Payoneer Global by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 227,988 shares of the company’s stock valued at $1,108,000 after acquiring an additional 2,958 shares during the period. Illinois Municipal Retirement Fund raised its stake in shares of Payoneer Global by 1.9% during the first quarter. Illinois Municipal Retirement Fund now owns 160,551 shares of the company’s stock valued at $780,000 after acquiring an additional 3,028 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Payoneer Global by 0.9% during the first quarter. Swiss National Bank now owns 535,700 shares of the company’s stock worth $2,604,000 after purchasing an additional 4,800 shares during the period. Institutional investors and hedge funds 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.