Payoneer Global (NASDAQ:PAYO) PT Raised to $10.00 at Needham & Company LLC

Payoneer Global (NASDAQ:PAYO) had its target price boosted by stock analysts at Needham & Company LLC from $9.00 to $10.00 in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 29.53% from the stock’s previous close.

Several other analysts have also recently weighed in on the company. Benchmark reaffirmed a “buy” rating and issued a $9.00 price target on shares of Payoneer Global in a report on Thursday, August 8th. Keefe, Bruyette & Woods boosted their price target on shares of Payoneer Global from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Citigroup raised their price objective on shares of Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a research report on Monday, August 12th. Northland Securities upped their target price on shares of Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, Cantor Fitzgerald upgraded Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $8.64.

Payoneer Global Trading Up 0.5 %

Shares of NASDAQ:PAYO opened at $7.72 on Monday. The company has a 50 day moving average of $7.05 and a 200 day moving average of $5.97. The stock has a market cap of $2.88 billion, a P/E ratio of 25.70 and a beta of 0.85. Payoneer Global has a 12 month low of $4.22 and a 12 month high of $7.86.

Payoneer Global (NASDAQ:PAYO) last released 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 11.25% and a return on equity of 15.28%. The firm had revenue of $239.50 million during the quarter, compared to analyst estimates of $223.12 million. During the same period in the previous year, the business earned $0.12 EPS. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities analysts forecast that Payoneer Global will post 0.25 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Scott H. Galit sold 150,000 shares of Payoneer Global 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 transaction, the director now owns 1,809,674 shares in the company, valued at approximately $12,794,395.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Payoneer Global news, Director Scott H. Galit sold 10,601 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $5.52, for a total transaction of $58,517.52. Following the completion of the transaction, the director now owns 2,122,421 shares of the company’s stock, valued at $11,715,763.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Scott H. Galit sold 150,000 shares of the stock in a transaction that occurred on 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.57% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

Several hedge funds have recently made changes to their positions in PAYO. Natixis bought a new position in Payoneer Global in the 1st quarter worth $3,106,000. Tidal Investments LLC purchased a new stake in Payoneer Global in the first quarter worth about $986,000. Janus Henderson Group PLC raised its position 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 worth $1,744,000 after acquiring an additional 203,943 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Payoneer Global by 17.1% in the 2nd quarter. Victory Capital Management Inc. now owns 4,417,785 shares of the company’s stock valued at $24,475,000 after purchasing an additional 645,887 shares during the period. Finally, ProShare Advisors LLC boosted its position in shares of Payoneer Global by 7.5% during the first quarter. ProShare Advisors LLC now owns 53,333 shares of the company’s stock valued at $259,000 after purchasing an additional 3,730 shares in the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.

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.