Payoneer Global (NASDAQ:PAYO) Posts Earnings Results, Beats Estimates By $0.07 EPS

Payoneer Global (NASDAQ:PAYO) announced its earnings results on Tuesday. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07, Briefing.com reports. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. The firm had revenue of $248.30 million for the quarter, compared to analysts’ expectations of $225.44 million. During the same quarter in the prior year, the firm earned $0.05 EPS. Payoneer Global’s quarterly revenue was up 19.4% on a year-over-year basis. Payoneer Global updated its FY 2024 guidance to EPS.

Payoneer Global Stock Performance

Payoneer Global stock traded up $0.29 during midday trading on Thursday, reaching $10.64. The stock had a trading volume of 1,029,130 shares, compared to its average volume of 2,675,066. The stock has a market capitalization of $4.06 billion, a PE ratio of 38.33 and a beta of 0.82. The stock’s 50-day simple moving average is $7.88 and its 200 day simple moving average is $6.52. Payoneer Global has a twelve month low of $4.22 and a twelve month high of $10.69.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PAYO shares. Cantor Fitzgerald raised shares of Payoneer Global to a “strong-buy” rating in a research note on Monday, August 12th. Benchmark raised their target price on shares of Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup boosted their price target on Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a report on Monday, August 12th. Northland Securities raised their price objective on Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group upped their target price on Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Payoneer Global presently has an average rating of “Buy” and an average target price of $10.79.

Insider Transactions at Payoneer Global

In other news, Director Scott H. Galit sold 150,000 shares of the business’s stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Scott H. Galit sold 150,000 shares of Payoneer Global stock in a transaction 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 owns 1,809,674 shares in the company, valued at approximately $12,794,395.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Itai Perry sold 4,100 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $8.00, for a total value of $32,800.00. Following the completion of the sale, the chief accounting officer now owns 228,738 shares of the company’s stock, valued at approximately $1,829,904. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 158,000 shares of company stock worth $1,124,500 in the last three months. 5.57% of the stock is currently owned by company insiders.

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.