Payoneer Global (NASDAQ:PAYO) Shares Gap Up to $5.22

Shares of Payoneer Global Inc. (NASDAQ:PAYO) gapped up prior to trading on Wednesday . The stock had previously closed at $5.22, but opened at $5.72. Payoneer Global shares last traded at $5.64, with a volume of 1,491,610 shares.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PAYO. Benchmark restated a “buy” rating and set a $7.00 price objective on shares of Payoneer Global in a research report on Tuesday, March 26th. Needham & Company LLC dropped their price target on Payoneer Global from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, April 1st. The Goldman Sachs Group cut their price objective on Payoneer Global from $7.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, January 11th. Citigroup decreased their price objective on Payoneer Global from $7.50 to $6.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. Finally, Cantor Fitzgerald cut their target price on Payoneer Global from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Friday, March 1st. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $6.57.

Payoneer Global Stock Performance

The company has a market cap of $2.18 billion, a P/E ratio of 23.71 and a beta of 0.77. The business has a 50 day moving average price of $4.79 and a two-hundred day moving average price of $5.06. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.09 and a current ratio of 1.09.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $224.32 million during the quarter, compared to the consensus estimate of $223.65 million. Payoneer Global had a return on equity of 14.80% and a net margin of 11.23%. On average, sell-side analysts anticipate that Payoneer Global Inc. will post 0.2 earnings per share for the current year.

Insider Buying and Selling at Payoneer Global

In related news, Director Scott H. Galit sold 16,697 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $5.39, for a total value of $89,996.83. Following the sale, the director now directly owns 3,156,731 shares of the company’s stock, valued at $17,014,780.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Scott H. Galit sold 16,697 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $5.39, for a total transaction of $89,996.83. Following the completion of the transaction, the director now owns 3,156,731 shares in the company, valued at $17,014,780.09. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Scott H. Galit sold 340,120 shares of Payoneer Global stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $4.51, for a total transaction of $1,533,941.20. Following the completion of the sale, the director now owns 3,127,981 shares in the company, valued at approximately $14,107,194.31. The disclosure for this sale can be found here. Insiders sold 1,231,424 shares of company stock valued at $5,865,310 in the last quarter. Company insiders own 5.57% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. bought a new position in Payoneer Global in the fourth quarter worth $29,000. C M Bidwell & Associates Ltd. bought a new position in shares of Payoneer Global in the 3rd quarter worth about $39,000. PNC Financial Services Group Inc. lifted its position in Payoneer Global by 74.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 8,241 shares of the company’s stock valued at $50,000 after acquiring an additional 3,512 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Payoneer Global by 27.8% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock worth $46,000 after acquiring an additional 2,074 shares in the last quarter. Finally, Blueshift Asset Management LLC purchased a new stake in Payoneer Global in the fourth quarter worth about $56,000. 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.