Payoneer Global Inc. (NASDAQ:PAYO) Receives $10.79 Average PT from Brokerages

Shares of Payoneer Global Inc. (NASDAQ:PAYO) have been given an average recommendation of “Buy” by the seven ratings firms that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $10.79.

Several brokerages have recently weighed in on PAYO. Cantor Fitzgerald raised shares of Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. The Goldman Sachs Group upped their target price on shares of Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Citigroup upped their target price 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. Keefe, Bruyette & Woods upped their target price on shares of Payoneer Global from $9.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Benchmark upped their target price on shares of Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th.

Payoneer Global Stock Down 1.6 %

Shares of PAYO opened at $10.87 on Thursday. The firm’s fifty day moving average is $8.83 and its two-hundred day moving average is $7.07. The stock has a market cap of $3.88 billion, a PE ratio of 31.09 and a beta of 0.82. Payoneer Global has a 52-week low of $4.22 and a 52-week high of $11.29.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.07. The firm had revenue of $248.30 million for the quarter, compared to analysts’ expectations of $225.44 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The company’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS. As a group, research analysts anticipate that Payoneer Global will post 0.32 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Itai Perry sold 52,829 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.64, for a total transaction of $562,100.56. Following the sale, the chief accounting officer now directly owns 201,882 shares in the company, valued at approximately $2,148,024.48. This represents a 20.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $10.32, for a total transaction of $77,400,000.00. Following the completion of the transaction, the insider now owns 34,197,116 shares in the company, valued at $352,914,237.12. This represents a 17.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,562,402 shares of company stock worth $78,043,152. Company insiders own 5.57% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

Hedge funds have recently added to or reduced their stakes in the stock. AXA S.A. boosted its holdings in shares of Payoneer Global by 1,394.5% in the second quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock valued at $78,538,000 after acquiring an additional 13,227,884 shares during the period. Millennium Management LLC lifted its holdings in shares of Payoneer Global by 17.3% during the second quarter. Millennium Management LLC now owns 6,764,016 shares of the company’s stock worth $37,473,000 after purchasing an additional 995,366 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Payoneer Global by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,790,400 shares of the company’s stock worth $23,283,000 after purchasing an additional 178,842 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Payoneer Global by 22.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,593,005 shares of the company’s stock worth $25,446,000 after purchasing an additional 849,680 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Payoneer Global by 17.1% during the second quarter. Victory Capital Management Inc. now owns 4,417,785 shares of the company’s stock worth $24,475,000 after purchasing an additional 645,887 shares during the period. 82.22% of the stock is currently owned by hedge funds and other institutional investors.

Payoneer Global Company Profile

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.