Keefe, Bruyette & Woods Boosts Payoneer Global (NASDAQ:PAYO) Price Target to $8.00

Payoneer Global (NASDAQ:PAYO) had its price objective hoisted by investment analysts at Keefe, Bruyette & Woods from $7.00 to $8.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 18.87% from the company’s current price.

A number of other research firms also recently issued reports on PAYO. Needham & Company LLC raised their price objective on shares of Payoneer Global from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday. Benchmark restated a “buy” rating and issued a $9.00 price target on shares of Payoneer Global in a research report on Tuesday, May 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $7.83.

Payoneer Global Stock Performance

Shares of NASDAQ PAYO traded up $0.02 during midday trading on Thursday, hitting $6.73. The company’s stock had a trading volume of 4,088,960 shares, compared to its average volume of 2,645,287. The stock has a fifty day moving average price of $5.59 and a 200 day moving average price of $5.27. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 22.43 and a beta of 0.82. Payoneer Global has a one year low of $4.22 and a one year high of $6.84. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.02.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Payoneer Global had a net margin of 13.19% and a return on equity of 17.56%. The company had revenue of $239.50 million during the quarter, compared to analyst estimates of $223.12 million. During the same period in the prior year, the business posted $0.12 EPS. The firm’s revenue was up 15.9% compared to the same quarter last year. On average, research analysts forecast that Payoneer Global will post 0.23 EPS for the current fiscal year.

Insider Activity

In other news, CAO Itai Perry sold 6,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $6.00, for a total value of $36,000.00. Following the sale, the chief accounting officer now directly owns 233,639 shares in the company, valued at $1,401,834. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Itai Perry sold 6,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $6.00, for a total value of $36,000.00. Following the completion of the sale, the chief accounting officer now owns 233,639 shares in the company, valued at $1,401,834. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott H. Galit sold 14,073 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $5.81, for a total value of $81,764.13. Following the sale, the director now owns 2,422,421 shares of the company’s stock, valued at approximately $14,074,266.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,783,948 shares of company stock valued at $9,713,888. Company insiders own 5.57% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

A number of institutional investors and hedge funds have recently modified their holdings of PAYO. Natixis acquired a new position in shares of Payoneer Global during the 1st quarter worth about $3,106,000. Tidal Investments LLC acquired a new stake in Payoneer Global during the 1st quarter worth $986,000. Allianz Asset Management GmbH raised its stake in shares of Payoneer Global by 43.5% in the 4th quarter. Allianz Asset Management GmbH now owns 906,735 shares of the company’s stock valued at $4,724,000 after purchasing an additional 274,942 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Payoneer Global by 131.6% in the 1st quarter. Janus Henderson Group PLC now owns 358,940 shares of the company’s stock valued at $1,744,000 after acquiring an additional 203,943 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Payoneer Global by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,790,400 shares of the company’s stock valued at $23,283,000 after acquiring an additional 178,842 shares in the last quarter. 82.22% of the stock is owned by institutional investors and hedge funds.

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.