Needham & Company LLC Forecasts Strong Price Appreciation for Payoneer Global (NASDAQ:PAYO) Stock

Payoneer Global (NASDAQ:PAYO) had its target price lifted by Needham & Company LLC from $10.00 to $14.00 in a research report sent to investors on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

PAYO has been the topic of several other research reports. Cantor Fitzgerald raised Payoneer Global to a “strong-buy” rating in a research note on Monday, August 12th. Benchmark boosted their target price on shares of Payoneer Global from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group increased 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. Northland Securities boosted 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. Finally, Citigroup raised their price objective on shares of Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, August 12th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Payoneer Global presently has a consensus rating of “Buy” and an average target price of $10.79.

Payoneer Global Stock Performance

Shares of PAYO stock opened at $10.81 on Wednesday. The firm has a fifty day moving average of $8.01 and a 200-day moving average of $6.60. The stock has a market cap of $4.13 billion, a price-to-earnings 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.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings results 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 firm had revenue of $248.30 million during the quarter, compared to analyst estimates of $225.44 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 earnings per share. On average, sell-side analysts predict that Payoneer Global will post 0.29 earnings per share for the current year.

Insider Buying and Selling at Payoneer Global

In other news, Director Scott H. Galit sold 150,000 shares of the company’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 transaction, the director now directly owns 1,809,674 shares in the company, valued at approximately $12,794,395.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Payoneer Global news, CAO Itai Perry sold 4,100 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $8.00, for a total transaction of $32,800.00. Following the completion of the sale, 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Scott H. Galit sold 150,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 1,809,674 shares in the company, valued at approximately $12,794,395.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 158,000 shares of company stock worth $1,124,500. 5.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Payoneer Global

Large investors have recently bought and sold shares of the business. Intech Investment Management LLC bought a new stake in shares of Payoneer Global during the 3rd quarter valued at $458,000. Quest Partners LLC bought a new stake in Payoneer Global in the third quarter valued at about $415,000. Royce & Associates LP increased its holdings in Payoneer Global by 49.3% in the third quarter. Royce & Associates LP now owns 234,010 shares of the company’s stock valued at $1,762,000 after purchasing an additional 77,232 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Payoneer Global during the third quarter worth about $210,000. Finally, Advisor Resource Council acquired a new position in shares of Payoneer Global during the 3rd quarter worth about $105,000. 82.22% of the stock is currently owned by institutional investors and hedge funds.

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.