Payoneer Global Inc. (NASDAQ:PAYO – Get Free Report)’s stock price reached a new 52-week high during trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $8.00 to $9.00. The Goldman Sachs Group currently has a buy rating on the stock. Payoneer Global traded as high as $8.03 and last traded at $8.03, with a volume of 1575997 shares traded. The stock had previously closed at $7.88.
A number of other research firms have also issued reports on PAYO. Northland Securities increased their price target on Payoneer Global from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Needham & Company LLC raised their target price on shares of Payoneer Global from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, October 7th. Benchmark reiterated a “buy” rating and set a $9.00 price target on shares of Payoneer Global in a report on Thursday, August 8th. Cantor Fitzgerald upgraded shares of Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Finally, Citigroup lifted their price objective 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. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $8.79.
Get Our Latest Analysis on PAYO
Insider Activity
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in shares of Payoneer Global during the second quarter worth about $29,000. SageView Advisory Group LLC purchased a new stake in Payoneer Global during the 1st quarter valued at approximately $39,000. GAMMA Investing LLC lifted its position in Payoneer Global by 438.5% during the 3rd quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock worth $44,000 after acquiring an additional 4,736 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Payoneer Global by 27.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock valued at $46,000 after purchasing an additional 2,074 shares during the last quarter. Finally, Sage Rhino Capital LLC acquired a new position in shares of Payoneer Global in the second quarter valued at approximately $56,000. 82.22% of the stock is owned by hedge funds and other institutional investors.
Payoneer Global Price Performance
The company has a 50 day moving average price of $7.28 and a 200 day moving average price of $6.08. The firm has a market cap of $3.00 billion, a PE ratio of 26.63 and a beta of 0.85.
Payoneer Global (NASDAQ:PAYO – Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. The business had revenue of $239.50 million during the quarter, compared to the consensus estimate of $223.12 million. During the same period in the prior year, the business posted $0.12 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities analysts anticipate that Payoneer Global Inc. will post 0.25 earnings per share for the current fiscal year.
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.
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