Payoneer Global (NASDAQ:PAYO) Hits New 1-Year High on Analyst Upgrade

Payoneer Global Inc. (NASDAQ:PAYO) hit a new 52-week high during mid-day trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $8.00 to $9.00. The Goldman Sachs Group currently has a buy rating on the stock. Payoneer Global traded as high as $8.03 and last traded at $8.03, with a volume of 1575997 shares changing hands. The stock had previously closed at $7.88.

PAYO has been the topic of a number of other research reports. Cantor Fitzgerald raised Payoneer Global to a “strong-buy” rating in a research note on Monday, August 12th. Benchmark reiterated a “buy” rating and set a $9.00 target price on shares of Payoneer Global in a research report on Thursday, August 8th. Northland Securities lifted their price target on Payoneer Global from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Needham & Company LLC increased their price objective on shares of Payoneer Global from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Citigroup boosted their target price on shares of Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a 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 data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $8.79.

Insider Transactions at Payoneer Global

In other news, Director Scott H. Galit sold 150,000 shares of Payoneer Global 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 owns 1,809,674 shares in the company, valued at $12,794,395.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Itai Perry sold 3,900 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $8.00, for a total value of $31,200.00. Following the transaction, the chief accounting officer now owns 228,738 shares in the company, valued at approximately $1,829,904. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 the firm’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 value of $1,060,500.00. Following 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. Company insiders own 5.57% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

A number of institutional investors have recently made changes to their positions in PAYO. Natixis bought a new stake in shares of Payoneer Global in the first quarter worth $3,106,000. Tidal Investments LLC acquired a new stake in shares of Payoneer Global in the 1st quarter valued at about $986,000. Janus Henderson Group PLC lifted its position in shares of Payoneer Global by 131.6% during the first quarter. Janus Henderson Group PLC now owns 358,940 shares of the company’s stock worth $1,744,000 after purchasing an additional 203,943 shares during the last quarter. Victory Capital Management Inc. grew its stake in Payoneer Global by 17.1% in the second quarter. Victory Capital Management Inc. now owns 4,417,785 shares of the company’s stock worth $24,475,000 after purchasing an additional 645,887 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in Payoneer Global by 7.5% in the first quarter. ProShare Advisors LLC now owns 53,333 shares of the company’s stock valued at $259,000 after buying an additional 3,730 shares during the last quarter. 82.22% of the stock is owned by institutional investors and hedge funds.

Payoneer Global Stock Performance

The stock has a fifty day moving average price of $7.28 and a two-hundred day moving average price of $6.08. The firm has a market capitalization of $3.00 billion, a P/E ratio of 26.63 and a beta of 0.85.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $239.50 million during the quarter, compared to the consensus estimate of $223.12 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 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.12 EPS. As a group, research analysts anticipate that Payoneer Global Inc. will post 0.25 earnings per share for the current fiscal year.

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.