Payoneer Global Inc. (NASDAQ:PAYO) Receives $8.25 Consensus PT from Brokerages

Shares of Payoneer Global Inc. (NASDAQ:PAYO) have been assigned a consensus recommendation of “Buy” from the six analysts that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $8.25.

A number of equities analysts recently weighed in on PAYO shares. The Goldman Sachs Group lifted their price target on Payoneer Global from $6.50 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Needham & Company LLC increased their target price on Payoneer Global from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Benchmark reiterated a “buy” rating and set a $9.00 price target on shares of Payoneer Global in a report on Thursday, August 8th. Keefe, Bruyette & Woods increased their price objective on Payoneer Global from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald raised Payoneer Global to a “strong-buy” rating in a research note on Monday, August 12th.

Insider Buying and Selling

In related news, Director Scott H. Galit sold 352,165 shares of Payoneer Global stock in a transaction on Monday, July 1st. The shares were sold at an average price of $5.43, for a total value of $1,912,255.95. Following the completion of the sale, the director now owns 2,122,421 shares of the company’s stock, valued at approximately $11,524,746.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Payoneer Global news, Director Scott H. Galit sold 14,073 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $5.81, for a total transaction of $81,764.13. Following the completion of the sale, the director now owns 2,422,421 shares of the company’s stock, valued at $14,074,266.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott H. Galit sold 352,165 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $5.43, for a total value of $1,912,255.95. Following the transaction, the director now owns 2,122,421 shares in the company, valued at approximately $11,524,746.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,754,155 shares of company stock worth $9,537,509. Insiders own 5.57% of the company’s stock.

Institutional Trading of Payoneer Global

Several large investors have recently modified their holdings of the company. Louisiana State Employees Retirement System acquired a new position in Payoneer Global during the 4th quarter worth $679,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Payoneer Global by 23.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,796 shares of the company’s stock worth $338,000 after purchasing an additional 12,403 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of Payoneer Global during the fourth quarter valued at approximately $29,000. Handelsbanken Fonder AB increased its holdings in Payoneer Global by 76.4% in the 4th quarter. Handelsbanken Fonder AB now owns 38,100 shares of the company’s stock valued at $199,000 after buying an additional 16,500 shares during the period. Finally, Illinois Municipal Retirement Fund raised its position in Payoneer Global by 33.3% in the fourth quarter. Illinois Municipal Retirement Fund now owns 157,523 shares of the company’s stock worth $821,000 after purchasing an additional 39,322 shares in the last quarter. 82.22% of the stock is owned by institutional investors.

Payoneer Global Stock Performance

Shares of PAYO opened at $7.14 on Tuesday. Payoneer Global has a 12-month low of $4.22 and a 12-month high of $7.21. The stock has a market capitalization of $2.67 billion, a P/E ratio of 23.80 and a beta of 0.82. The firm’s 50 day moving average is $5.73 and its 200-day moving average is $5.36. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.09 and a quick ratio of 1.09.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. Payoneer Global had a return on equity of 17.56% and a net margin of 13.19%. The company had revenue of $239.50 million for the quarter, compared to analysts’ expectations of $223.12 million. During the same quarter in the prior year, the company earned $0.12 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. Equities research analysts anticipate that Payoneer Global will post 0.23 EPS for the current fiscal year.

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.