Payoneer Global (NASDAQ:PAYO) Price Target Raised to $13.00 at Citigroup

Payoneer Global (NASDAQ:PAYO) had its price target raised by Citigroup from $8.50 to $13.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Payoneer Global from $12.00 to $11.00 and set a “market perform” rating for the company in a report on Monday, January 6th. Northland Securities lifted their price target 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. Wolfe Research cut Payoneer Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group upped their target price on Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Benchmark lifted their price objective on Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Payoneer Global currently has an average rating of “Moderate Buy” and an average price target of $11.86.

Payoneer Global Price Performance

Shares of NASDAQ:PAYO opened at $9.91 on Tuesday. The firm has a market capitalization of $3.53 billion, a PE ratio of 28.32 and a beta of 0.92. The business has a 50 day simple moving average of $10.40 and a two-hundred day simple moving average of $8.18. Payoneer Global has a 1 year low of $4.22 and a 1 year high of $11.29.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The company had revenue of $248.30 million during the quarter, compared to analysts’ expectations of $225.44 million. During the same quarter in the previous year, the business earned $0.05 EPS. Payoneer Global’s revenue was up 19.4% compared to the same quarter last year. Equities research analysts expect that Payoneer Global will post 0.35 EPS for the current fiscal year.

Insider Buying and Selling at Payoneer Global

In other news, insider Crossover Managemen Technology sold 7,500,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $10.32, for a total value of $77,400,000.00. Following the completion of the sale, the insider now owns 34,197,116 shares of the company’s stock, valued at $352,914,237.12. This trade represents a 17.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Itai Perry sold 52,829 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.64, for a total value of $562,100.56. Following the completion of the sale, the chief accounting officer now owns 201,882 shares of the company’s stock, valued at approximately $2,148,024.48. This trade represents a 20.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,914,625 shares of company stock worth $81,614,514 over the last three months. Corporate insiders own 5.57% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new position in Payoneer Global in the 2nd quarter worth $29,000. Blue Trust Inc. raised its stake in shares of Payoneer Global by 135.2% in the third quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock worth $33,000 after purchasing an additional 2,552 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Payoneer Global by 438.5% during the third quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock worth $44,000 after purchasing an additional 4,736 shares during the period. FSC Wealth Advisors LLC purchased a new stake in Payoneer Global in the third quarter valued at approximately $68,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in Payoneer Global in the second quarter valued at approximately $94,000. 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.