Analysts Set Payoneer Global Inc. (NASDAQ:PAYO) PT at $7.40

Shares of Payoneer Global Inc. (NASDAQ:PAYO) have been given a consensus recommendation of “Hold” by the nine ratings firms that are covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $7.40.

PAYO has been the subject of several research reports. Weiss Ratings lowered Payoneer Global from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. Keefe, Bruyette & Woods downgraded shares of Payoneer Global from a “moderate buy” rating to a “hold” rating in a research note on Monday, June 15th. Citigroup lowered shares of Payoneer Global from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $10.00 to $7.40 in a report on Tuesday, June 16th. Benchmark cut shares of Payoneer Global from a “buy” rating to a “hold” rating in a research note on Thursday, June 18th. Finally, Needham & Company LLC lowered shares of Payoneer Global from a “buy” rating to a “hold” rating in a report on Monday, June 15th.

Payoneer Global Price Performance

Shares of NASDAQ:PAYO opened at $7.12 on Friday. The company’s fifty day moving average price is $6.94 and its 200-day moving average price is $5.76. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 50.86, a PEG ratio of 1.49 and a beta of 0.96. Payoneer Global has a one year low of $4.08 and a one year high of $7.18.

Insider Activity

In related news, CFO Beatrice Ordonez sold 25,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $7.01, for a total transaction of $175,250.00. Following the completion of the sale, the chief financial officer directly owned 2,887,266 shares in the company, valued at $20,239,734.66. This represents a 0.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.06% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

Hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Payoneer Global in the second quarter worth about $278,076,000. State Street Corp raised its position in Payoneer Global by 1.8% during the 4th quarter. State Street Corp now owns 10,772,088 shares of the company’s stock valued at $60,539,000 after purchasing an additional 195,410 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Payoneer Global by 1.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,436,470 shares of the company’s stock valued at $58,654,000 after purchasing an additional 182,614 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Payoneer Global by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,544,420 shares of the company’s stock valued at $36,438,000 after purchasing an additional 263,030 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Payoneer Global by 137.3% in the 2nd quarter. Invesco Ltd. now owns 5,562,623 shares of the company’s stock worth $38,104,000 after buying an additional 3,218,917 shares during the period. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Payoneer Global Company Profile

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.