The Goldman Sachs Group Boosts Payoneer Global (NASDAQ:PAYO) Price Target to $9.00

Payoneer Global (NASDAQ:PAYO) had its price target lifted by The Goldman Sachs Group from $8.00 to $9.00 in a research note published on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Benchmark restated a “buy” rating and set a $9.00 target price on shares of Payoneer Global in a research note on Thursday, August 8th. Keefe, Bruyette & Woods raised their target price on shares of Payoneer Global from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Citigroup lifted their target price 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. Cantor Fitzgerald raised Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Finally, Needham & Company LLC lifted their price objective on Payoneer Global from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Payoneer Global has a consensus rating of “Buy” and an average target price of $8.79.

Payoneer Global Stock Performance

Shares of NASDAQ PAYO opened at $8.22 on Monday. The company has a market cap of $3.07 billion, a PE ratio of 27.40 and a beta of 0.85. The firm’s 50 day moving average price is $7.40 and its 200-day moving average price is $6.13. Payoneer Global has a 52-week low of $4.22 and a 52-week high of $8.25.

Payoneer Global (NASDAQ:PAYO) last posted its earnings results on Wednesday, August 7th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $239.50 million during the quarter, compared to analyst estimates of $223.12 million. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.12 EPS. On average, analysts forecast that Payoneer Global will post 0.25 earnings per share for the current fiscal year.

Insider Transactions at Payoneer Global

In other Payoneer Global 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 of the company’s stock, valued at approximately $12,794,395.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Scott H. Galit sold 150,000 shares of Payoneer Global 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 transaction, the director now directly owns 1,809,674 shares of the company’s stock, valued at $12,794,395.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Itai Perry sold 3,900 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $8.00, for a total transaction of $31,200.00. Following the completion of the sale, the chief accounting officer now directly owns 228,738 shares of the company’s stock, valued at $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 sold 158,000 shares of company stock worth $1,124,500 in the last three months. Corporate insiders own 5.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quarry LP bought a new position in shares of Payoneer Global in the second quarter worth about $29,000. SageView Advisory Group LLC bought a new position in Payoneer Global in the 1st quarter worth approximately $39,000. GAMMA Investing LLC grew its holdings in Payoneer Global by 438.5% during the 3rd quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock valued at $44,000 after buying an additional 4,736 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Payoneer Global by 27.8% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock valued at $46,000 after buying an additional 2,074 shares in the last quarter. Finally, Sage Rhino Capital LLC bought a new stake in shares of Payoneer Global during the second quarter valued at approximately $56,000. Institutional investors 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.