Keefe, Bruyette & Woods Issues Pessimistic Forecast for Payoneer Global (NASDAQ:PAYO) Stock Price

Payoneer Global (NASDAQ:PAYO) had its price objective trimmed by Keefe, Bruyette & Woods from $10.00 to $8.00 in a report issued on Monday,Benzinga reports. The firm currently has a market perform rating on the stock.

A number of other research firms have also issued reports on PAYO. Northland Securities raised their price target on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Citigroup raised their target price on shares of Payoneer Global from $14.50 to $16.50 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Payoneer Global in a report on Monday, February 3rd. They issued a “buy” rating and a $13.00 price target on the stock. Finally, Wolfe Research lowered Payoneer Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Payoneer Global presently has an average rating of “Moderate Buy” and an average target price of $12.36.

Payoneer Global Trading Up 1.1 %

NASDAQ:PAYO opened at $7.55 on Monday. The firm has a fifty day simple moving average of $9.03 and a 200-day simple moving average of $9.31. Payoneer Global has a 12 month low of $4.69 and a 12 month high of $11.29. The company has a market capitalization of $2.72 billion, a P/E ratio of 21.57, a PEG ratio of 2.88 and a beta of 0.97.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $261.74 million for the quarter, compared to analyst estimates of $242.14 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. During the same period in the prior year, the firm posted $0.05 EPS. Equities analysts forecast that Payoneer Global will post 0.34 EPS for the current year.

Insider Activity

In other news, CFO Beatrice Ordonez sold 85,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $10.40, for a total value of $884,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,305,245 shares in the company, valued at $23,974,548. This represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.57% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

Institutional investors and hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC acquired a new position in Payoneer Global during the third quarter worth $458,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Payoneer Global by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,337,156 shares of the company’s stock worth $17,599,000 after acquiring an additional 67,255 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Payoneer Global by 1.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 165,996 shares of the company’s stock valued at $1,250,000 after purchasing an additional 1,907 shares in the last quarter. FMR LLC increased its holdings in shares of Payoneer Global by 17.2% in the 3rd quarter. FMR LLC now owns 1,129,312 shares of the company’s stock valued at $8,504,000 after purchasing an additional 165,913 shares in the last quarter. Finally, Verition Fund Management LLC lifted its stake in shares of Payoneer Global by 28.6% in the third quarter. Verition Fund Management LLC now owns 142,207 shares of the company’s stock valued at $1,071,000 after purchasing an additional 31,646 shares during the period. 82.22% of the stock is currently owned by institutional investors and hedge funds.

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.