Keefe, Bruyette & Woods Cuts Payoneer Global (NASDAQ:PAYO) Price Target to $11.00

Payoneer Global (NASDAQ:PAYO) had its price objective decreased by Keefe, Bruyette & Woods from $12.00 to $11.00 in a research report sent to investors on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

PAYO has been the subject of a number of other research reports. Northland Securities raised their price objective on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Needham & Company LLC boosted their price objective on shares of Payoneer Global from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Benchmark upped their price objective on shares of Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group upped their price target on shares of Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Payoneer Global currently has an average rating of “Moderate Buy” and a consensus price target of $11.21.

Payoneer Global Trading Down 3.0 %

Shares of NASDAQ PAYO opened at $10.07 on Monday. Payoneer Global has a twelve month low of $4.22 and a twelve month high of $11.29. The firm has a 50-day moving average of $10.33 and a two-hundred day moving average of $8.04. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 28.77 and a beta of 0.92.

Payoneer Global (NASDAQ:PAYO) last issued its earnings results 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. The firm had revenue of $248.30 million during 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 firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. As a group, research analysts predict that Payoneer Global will post 0.35 earnings per share for the current year.

Insider Transactions at Payoneer Global

In other news, CAO Itai Perry sold 4,100 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $8.00, for a total transaction of $32,800.00. Following the completion of the transaction, the chief accounting officer now directly owns 228,738 shares in the company, valued at $1,829,904. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 value of $77,400,000.00. Following the completion of the sale, the insider now directly owns 34,197,116 shares of the company’s stock, 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 three months, insiders sold 7,918,725 shares of company stock worth $81,647,314. 5.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PAYO. AXA S.A. grew its position in Payoneer Global by 1,394.5% during the second quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock worth $78,538,000 after buying an additional 13,227,884 shares in the last quarter. Millennium Management LLC lifted its position in shares of Payoneer Global by 17.3% in the 2nd quarter. Millennium Management LLC now owns 6,764,016 shares of the company’s stock worth $37,473,000 after acquiring an additional 995,366 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Payoneer Global by 22.7% during the 2nd 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 in the last quarter. Victory Capital Management Inc. increased its position 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 valued at $24,475,000 after purchasing an additional 645,887 shares during the period. Finally, Azora Capital LP acquired a new position in shares of Payoneer Global in the third quarter valued at $31,901,000. 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.