Payoneer Global (NASDAQ:PAYO) Reaches New 52-Week High – Here’s What Happened

Payoneer Global Inc. (NASDAQ:PAYO) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $11.02 and last traded at $11.02, with a volume of 8977 shares trading hands. The stock had previously closed at $10.93.

Analyst Ratings Changes

PAYO has been the subject of a number of analyst reports. Benchmark upped their target price on Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Needham & Company LLC upped their price target on Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Northland Securities upped their price target on Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. The Goldman Sachs Group upped their target price on Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods upped their target price on Payoneer Global from $9.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $10.79.

Payoneer Global Stock Performance

The firm has a market capitalization of $3.93 billion, a PE ratio of 31.23 and a beta of 0.82. The firm’s 50 day moving average price is $8.69 and its 200-day moving average price is $6.99.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The company had revenue of $248.30 million during the quarter, compared to the consensus estimate of $225.44 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. Payoneer Global’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 EPS. On average, equities research analysts expect that Payoneer Global Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Payoneer Global

In other news, Director Scott H. Galit sold 150,000 shares of Payoneer Global stock in a transaction on Wednesday, August 28th. The shares were 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 directly owns 1,809,674 shares of the company’s stock, valued at approximately $12,794,395.18. The trade was a 7.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Itai Perry sold 4,100 shares of Payoneer Global stock in a transaction 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 sale, the chief accounting officer now directly owns 228,738 shares of the company’s stock, valued at approximately $1,829,904. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,710,829 shares of company stock valued at $79,086,601 in the last 90 days. Company insiders own 5.57% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. increased its stake in Payoneer Global by 135.2% in the third quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock valued at $33,000 after purchasing an additional 2,552 shares during the period. Quarry LP acquired a new position in Payoneer Global in the second quarter valued at $29,000. GAMMA Investing LLC increased its stake in shares of Payoneer Global by 438.5% during the third 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. FSC Wealth Advisors LLC acquired a new position in shares of Payoneer Global during the third quarter worth about $68,000. Finally, Sage Rhino Capital LLC acquired a new position in shares of Payoneer Global during the second quarter worth about $56,000. 82.22% of the stock is 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.