Payoneer Global (NASDAQ:PAYO) Price Target Raised to $12.00 at The Goldman Sachs Group

Payoneer Global (NASDAQ:PAYO) had its target price hoisted by The Goldman Sachs Group from $9.00 to $12.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also weighed in on PAYO. Benchmark increased their target price on shares of Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday. Northland Securities raised their target price on shares of Payoneer Global from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald raised shares of Payoneer Global to a “strong-buy” rating in a research note on Monday, August 12th. Keefe, Bruyette & Woods raised their price target 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. Finally, Citigroup lifted their target price on shares of Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a research report on Monday, August 12th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $10.79.

Payoneer Global Stock Performance

PAYO traded up $0.13 during trading on Wednesday, reaching $10.81. The stock had a trading volume of 5,621,316 shares, compared to its average volume of 3,185,800. The stock has a market cap of $4.13 billion, a PE ratio of 30.89 and a beta of 0.82. Payoneer Global has a one year low of $4.22 and a one year high of $10.90. The business has a 50-day moving average of $8.01 and a 200-day moving average of $6.59.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.07. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The business had revenue of $248.30 million during the quarter, compared to analyst estimates of $225.44 million. During the same period in the prior year, the business posted $0.05 earnings per share. The company’s revenue was up 19.4% on a year-over-year basis. Equities research analysts forecast that Payoneer Global will post 0.29 EPS for the current fiscal year.

Insider Activity at Payoneer Global

In other news, CAO Itai Perry sold 3,900 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $8.00, for a total value of $31,200.00. Following the sale, the chief accounting officer now directly owns 228,738 shares in the company, valued at $1,829,904. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Scott H. Galit sold 150,000 shares of the 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 completion of the sale, the director now owns 1,809,674 shares of the company’s stock, valued at $12,794,395.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Itai Perry sold 3,900 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $8.00, for a total transaction of $31,200.00. Following the sale, the chief accounting officer now directly owns 228,738 shares of the company’s stock, valued at $1,829,904. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,000 shares of company stock worth $1,124,500. 5.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PAYO. Van ECK Associates Corp increased its stake in shares of Payoneer Global by 1.6% in the third quarter. Van ECK Associates Corp now owns 84,209 shares of the company’s stock worth $634,000 after acquiring an additional 1,306 shares during the period. Xponance Inc. boosted its holdings in Payoneer Global by 12.1% during the second quarter. Xponance Inc. now owns 17,928 shares of the company’s stock worth $99,000 after buying an additional 1,942 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in Payoneer Global by 11.7% during the second quarter. Y.D. More Investments Ltd now owns 22,142 shares of the company’s stock worth $122,000 after buying an additional 2,328 shares in the last quarter. Blue Trust Inc. boosted its holdings in Payoneer Global by 135.2% during the third quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock worth $33,000 after buying an additional 2,552 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its holdings in Payoneer Global by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 227,988 shares of the company’s stock worth $1,108,000 after buying an additional 2,958 shares in the last quarter. Institutional investors and hedge funds own 82.22% of the company’s stock.

Payoneer Global Company Profile

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.