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

Payoneer Global (NASDAQ:PAYO) had its price target upped by Keefe, Bruyette & Woods from $9.00 to $12.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also recently commented on the company. Cantor Fitzgerald raised Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. Northland Securities increased their target price on shares of Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Citigroup boosted their price target 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. Needham & Company LLC lifted their price objective on shares of Payoneer Global from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, The Goldman Sachs Group increased their target price on Payoneer Global from $9.00 to $12.00 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $10.79.

Payoneer Global Stock Performance

NASDAQ PAYO opened at $10.81 on Wednesday. The company has a market capitalization of $4.13 billion, a PE 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 company has a 50-day simple moving average of $8.01 and a 200 day simple moving average of $6.60.

Payoneer Global (NASDAQ:PAYO) last issued 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. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The company had revenue of $248.30 million during the quarter, compared to analyst estimates of $225.44 million. During the same quarter last year, the business posted $0.05 EPS. Payoneer Global’s quarterly revenue was up 19.4% compared to the same quarter last year. As a group, analysts forecast that Payoneer Global will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Itai Perry sold 4,100 shares of the business’s stock in a transaction on 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 in the company, valued at $1,829,904. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other 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 transaction, the chief accounting officer now owns 228,738 shares of the company’s stock, valued at approximately $1,829,904. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 that occurred on Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the completion of the transaction, the director now 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 disclosure for this sale can be found here. Insiders have sold 158,000 shares of company stock worth $1,124,500 in the last three months. 5.57% of the stock is currently owned by corporate insiders.

Institutional Trading of Payoneer Global

A number of hedge funds have recently made changes to their positions in PAYO. AXA S.A. raised its position in Payoneer Global by 1,394.5% during the second 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 in the last quarter. Legion Partners Asset Management LLC bought a new position in shares of Payoneer Global during the 2nd quarter valued at about $12,360,000. American Century Companies Inc. raised its holdings in shares of Payoneer Global by 241.5% during the 2nd quarter. American Century Companies Inc. now owns 1,643,744 shares of the company’s stock valued at $9,106,000 after buying an additional 1,162,481 shares in the last quarter. Shell Asset Management Co. bought a new stake in Payoneer Global in the 1st quarter worth approximately $5,360,000. Finally, Millennium Management LLC boosted its stake in Payoneer Global by 17.3% in the second quarter. Millennium Management LLC now owns 6,764,016 shares of the company’s stock worth $37,473,000 after buying an additional 995,366 shares in the last quarter. 82.22% of the stock is owned by 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.