Payoneer Global Inc. (NASDAQ:PAYO) Receives $7.40 Average Target Price from Analysts

Shares of Payoneer Global Inc. (NASDAQ:PAYO) have been assigned a consensus recommendation of “Hold” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $7.40.

Several brokerages recently commented on PAYO. Weiss Ratings upgraded Payoneer Global from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, September 1st. Citigroup downgraded shares of Payoneer Global from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $10.00 to $7.40 in a research report on Tuesday, June 16th. Keefe, Bruyette & Woods downgraded shares of Payoneer Global from a “moderate buy” rating to a “hold” rating in a report on Monday, June 15th. Needham & Company LLC lowered shares of Payoneer Global from a “buy” rating to a “hold” rating in a report on Monday, June 15th. Finally, William Blair downgraded shares of Payoneer Global from an “outperform” rating to a “hold” rating in a research report on Monday, June 15th.

Payoneer Global Stock Performance

NASDAQ PAYO opened at $7.13 on Wednesday. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 50.93, a PEG ratio of 1.84 and a beta of 0.94. Payoneer Global has a one year low of $4.08 and a one year high of $7.18. The company’s 50 day moving average price is $7.12 and its 200 day moving average price is $5.92.

Payoneer Global (NASDAQ:PAYO) last issued its earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07). The business had revenue of $274.26 million during the quarter, compared to analysts’ expectations of $270.98 million. Payoneer Global had a net margin of 4.65% and a return on equity of 9.97%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 EPS. Sell-side analysts forecast that Payoneer Global will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Beatrice Ordonez sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $7.01, for a total transaction of $175,250.00. Following the completion of the transaction, the chief financial officer directly owned 2,887,266 shares of the company’s stock, valued at approximately $20,239,734.66. This represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.06% of the stock is currently owned by insiders.

Institutional Trading of Payoneer Global

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Leonteq Securities AG boosted its position in Payoneer Global by 72.0% during the 1st quarter. Leonteq Securities AG now owns 6,496 shares of the company’s stock valued at $31,000 after purchasing an additional 2,720 shares during the period. Osaic Holdings Inc. increased its position in Payoneer Global by 246.5% in the second quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock worth $33,000 after buying an additional 3,298 shares during the period. Nykredit A S acquired a new stake in Payoneer Global in the second quarter worth $39,000. GAMMA Investing LLC lifted its stake in Payoneer Global by 73.8% in the second quarter. GAMMA Investing LLC now owns 5,777 shares of the company’s stock valued at $41,000 after buying an additional 2,453 shares during the last quarter. Finally, Resonant Capital Advisors LLC bought a new stake in Payoneer Global in the first quarter valued at $49,000. 82.22% of the stock is currently owned by institutional investors and hedge funds.

About Payoneer Global

Payoneer Global (NASDAQ: PAYO) operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company’s core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.