Payoneer Global (NASDAQ:PAYO) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Payoneer Global (NASDAQ:PAYO) issued its earnings results on Wednesday. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03, Briefing.com reports. Payoneer Global had a return on equity of 14.80% and a net margin of 11.23%. The business had revenue of $228.20 million during the quarter, compared to analyst estimates of $211.63 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share. Payoneer Global’s revenue for the quarter was up 18.9% on a year-over-year basis. Payoneer Global updated its FY 2024 guidance to EPS.

Payoneer Global Stock Performance

Shares of PAYO traded down $0.01 during trading hours on Thursday, hitting $5.87. The stock had a trading volume of 2,646,463 shares, compared to its average volume of 2,548,998. The firm has a market capitalization of $2.16 billion, a PE ratio of 24.50 and a beta of 0.77. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a fifty day moving average price of $4.82 and a 200 day moving average price of $5.07. Payoneer Global has a 12 month low of $4.02 and a 12 month high of $6.48.

Analyst Ratings Changes

Several equities research analysts have weighed in on PAYO shares. Citigroup dropped their price target on shares of Payoneer Global from $7.50 to $6.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. Needham & Company LLC upped their target price on Payoneer Global from $7.00 to $8.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group reduced their price objective on shares of Payoneer Global from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. Keefe, Bruyette & Woods reduced their target price on Payoneer Global from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Finally, Cantor Fitzgerald lowered 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 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 $6.71.

Insider Activity

In other Payoneer Global news, insider Tsafi Goldman sold 61,464 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $5.43, for a total transaction of $333,749.52. Following the completion of the sale, the insider now directly owns 870,832 shares of the company’s stock, valued at $4,728,617.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Scott H. Galit sold 16,697 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $5.39, for a total value of $89,996.83. Following the transaction, the director now 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 is available through this link. Also, insider Tsafi Goldman sold 61,464 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $5.43, for a total value of $333,749.52. Following the transaction, the insider now owns 870,832 shares of the company’s stock, valued at approximately $4,728,617.76. The disclosure for this sale can be found here. Insiders sold 1,228,282 shares of company stock valued at $5,849,600 in the last quarter. 5.57% of the stock is currently owned by insiders.

About Payoneer Global

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.