Payoneer Global (NASDAQ:PAYO) Given New $14.00 Price Target at Needham & Company LLC

Payoneer Global (NASDAQ:PAYO) had its price objective upped by equities researchers at Needham & Company LLC from $10.00 to $14.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 35.92% from the company’s current price.

Several other research analysts also recently commented on PAYO. Citigroup lifted their target price on Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, August 12th. Keefe, Bruyette & Woods upped their target price on Payoneer Global from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Northland Securities boosted their price target 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. Cantor Fitzgerald upgraded shares of Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. Finally, The Goldman Sachs Group boosted their target price on shares of Payoneer Global from $8.00 to $9.00 and gave the company a “buy” rating in a report on Monday, October 14th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $9.50.

Payoneer Global Trading Up 20.9 %

Shares of PAYO stock opened at $10.30 on Wednesday. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 38.15 and a beta of 0.82. The business’s 50-day moving average price is $7.75 and its 200-day moving average price is $6.45. Payoneer Global has a 12 month low of $4.22 and a 12 month high of $10.35.

Payoneer Global (NASDAQ:PAYO) last posted its earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. The firm had revenue of $248.30 million for the quarter, compared to analyst estimates of $225.44 million. Payoneer Global had a net margin of 11.25% and a return on equity of 15.28%. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 EPS. On average, sell-side analysts predict that Payoneer Global will post 0.25 earnings per share for the current fiscal year.

Insider Transactions at Payoneer Global

In related news, CAO Itai Perry sold 4,100 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $8.00, for a total transaction of $32,800.00. Following the completion of the sale, the chief accounting officer now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Itai Perry sold 4,100 shares of Payoneer Global stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $8.00, for a total transaction of $32,800.00. Following the sale, the chief accounting officer now directly owns 228,738 shares in the company, valued at approximately $1,829,904. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Scott H. Galit sold 150,000 shares of Payoneer Global stock in a transaction 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 sale, the director now owns 1,809,674 shares in the company, valued at $12,794,395.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,000 shares of company stock valued at $1,124,500 over the last three months. Corporate insiders own 5.57% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

A number of hedge funds have recently modified their holdings of PAYO. Quarry LP purchased a new stake in Payoneer Global in the second quarter worth $29,000. Blue Trust Inc. increased its holdings in Payoneer Global by 135.2% in the 3rd quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock worth $33,000 after acquiring an additional 2,552 shares during the last quarter. SageView Advisory Group LLC bought a new stake in Payoneer Global in the 1st quarter valued at about $39,000. GAMMA Investing LLC raised its stake in Payoneer Global by 438.5% in the 3rd quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock valued at $44,000 after acquiring an additional 4,736 shares during the period. Finally, Sage Rhino Capital LLC purchased a new stake in Payoneer Global during the second quarter valued at about $56,000. Institutional investors own 82.22% of the company’s stock.

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.