Payoneer Global Inc. (NASDAQ:PAYO) Receives $11.36 Average Target Price from Brokerages

Payoneer Global Inc. (NASDAQ:PAYO) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $11.36.

PAYO has been the subject of a number of research analyst reports. Northland Securities increased their price objective on shares of Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Keefe, Bruyette & Woods cut shares of Payoneer Global from an “outperform” rating to a “market perform” rating and set a $12.00 target price for the company. in a research note on Monday, December 9th. Needham & Company LLC boosted their price target on shares of Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Benchmark increased their price objective on shares of Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group lifted 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.

Payoneer Global Stock Performance

PAYO opened at $10.12 on Monday. Payoneer Global has a fifty-two week low of $4.22 and a fifty-two week high of $11.29. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 28.92 and a beta of 0.90. The firm’s fifty day moving average is $9.85 and its 200 day moving average is $7.62.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, topping 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 firm had revenue of $248.30 million during the quarter, compared to analyst estimates of $225.44 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. On average, equities research analysts predict that Payoneer Global will post 0.35 earnings per share for the current year.

Insider Activity

In other Payoneer Global news, CAO Itai Perry sold 3,900 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $8.00, for a total transaction of $31,200.00. Following the transaction, the chief accounting officer now owns 228,738 shares in the company, valued at $1,829,904. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $10.32, for a total transaction 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 disclosure for this sale can be found here. In the last three months, insiders have sold 7,826,275 shares of company stock worth $80,708,269. 5.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PAYO. Van ECK Associates Corp grew its holdings in shares of Payoneer Global by 1.6% in the third quarter. Van ECK Associates Corp now owns 84,209 shares of the company’s stock worth $634,000 after purchasing an additional 1,306 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Payoneer Global by 1.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 165,996 shares of the company’s stock worth $1,250,000 after acquiring an additional 1,907 shares in the last quarter. Xponance Inc. grew its stake in Payoneer Global by 12.1% in the 2nd quarter. Xponance Inc. now owns 17,928 shares of the company’s stock worth $99,000 after acquiring an additional 1,942 shares in the last quarter. Y.D. More Investments Ltd increased its position in shares of Payoneer Global by 11.7% during the second quarter. Y.D. More Investments Ltd now owns 22,142 shares of the company’s stock worth $122,000 after acquiring an additional 2,328 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Payoneer Global by 135.2% during the third quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock valued at $33,000 after acquiring an additional 2,552 shares in the last quarter. Hedge funds and other institutional investors own 82.22% of the company’s stock.

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.