Payoneer Global (NASDAQ:PAYO) Sets New 1-Year High – Time to Buy?

Payoneer Global Inc. (NASDAQ:PAYO) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $8.44 and last traded at $8.43, with a volume of 140151 shares. The stock had previously closed at $8.35.

Wall Street Analyst Weigh In

PAYO has been the topic of a number of research reports. The Goldman Sachs Group upped their price target on shares of Payoneer Global from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC increased their target price on Payoneer Global from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Citigroup boosted their price target on Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a research note on Monday, August 12th. Benchmark increased their price objective on Payoneer Global from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Payoneer Global from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Payoneer Global has a consensus rating of “Buy” and an average target price of $8.93.

Payoneer Global Stock Performance

The firm has a market cap of $3.17 billion, a P/E ratio of 28.30 and a beta of 0.85. The company’s 50 day moving average is $7.46 and its 200 day moving average is $6.20.

Payoneer Global (NASDAQ:PAYO) last announced 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 return on equity of 15.28% and a net margin of 11.25%. The company had revenue of $239.50 million during the quarter, compared to analysts’ expectations of $223.12 million. During the same period in the prior year, the company earned $0.12 EPS. Payoneer Global’s revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts anticipate that Payoneer Global Inc. will post 0.25 EPS for the current year.

Insider Activity

In other Payoneer Global news, Director Scott H. Galit sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the sale, the director now directly owns 1,809,674 shares of the company’s stock, valued at $12,794,395.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Scott H. Galit sold 150,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total value of $1,060,500.00. Following the completion of the sale, the director now owns 1,809,674 shares of the company’s stock, valued at approximately $12,794,395.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Itai Perry sold 4,100 shares of Payoneer Global stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $8.00, for a total value of $32,800.00. Following the completion of the transaction, the chief accounting officer now directly owns 228,738 shares in the company, valued at approximately $1,829,904. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 158,000 shares of company stock valued at $1,124,500 over the last quarter. 5.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On Payoneer Global

Several large investors have recently modified their holdings of PAYO. Vanguard Group Inc. grew its holdings in Payoneer Global by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 28,579,172 shares of the company’s stock worth $148,897,000 after acquiring an additional 787,509 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Payoneer Global by 4.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,579,996 shares of the company’s stock worth $7,679,000 after purchasing an additional 64,126 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its position in Payoneer Global by 27.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock valued at $46,000 after purchasing an additional 2,074 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Payoneer Global by 6.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 563,060 shares of the company’s stock valued at $2,736,000 after purchasing an additional 33,491 shares in the last quarter. Finally, Capstone Investment Advisors LLC bought a new stake in Payoneer Global during the 1st quarter valued at $313,000. 82.22% of the stock is currently 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.