The Goldman Sachs Group Raises Payoneer Global (NASDAQ:PAYO) Price Target to $9.00

Payoneer Global (NASDAQ:PAYO) had its target price upped by The Goldman Sachs Group from $8.00 to $9.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also issued reports on the company. Northland Securities lifted their target price on Payoneer Global from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Citigroup boosted their price objective on Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods raised their target price on shares of Payoneer Global from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Benchmark reiterated a “buy” rating and issued a $9.00 price target on shares of Payoneer Global in a research note on Thursday, August 8th. Finally, Needham & Company LLC increased their price objective on shares of Payoneer Global from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Payoneer Global presently has a consensus rating of “Buy” and an average price target of $8.79.

Payoneer Global Price Performance

Shares of NASDAQ:PAYO opened at $8.10 on Monday. The firm has a market capitalization of $3.02 billion, a PE ratio of 27.00 and a beta of 0.85. Payoneer Global has a 1 year low of $4.22 and a 1 year high of $8.11. The firm’s 50-day moving average is $7.37 and its two-hundred day moving average is $6.11.

Payoneer Global (NASDAQ:PAYO) last announced its earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $223.12 million. During the same period in the prior year, the firm earned $0.12 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Analysts expect that Payoneer Global will post 0.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Scott H. Galit sold 150,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 1,809,674 shares in the company, valued at approximately $12,794,395.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $1,060,500.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Itai Perry sold 4,100 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $8.00, for a total value of $32,800.00. Following the completion of the sale, the chief accounting officer now directly owns 228,738 shares of the company’s stock, valued at approximately $1,829,904. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 158,000 shares of company stock valued at $1,124,500. 5.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Payoneer Global

A number of hedge funds have recently modified their holdings of PAYO. Wellington Management Group LLP raised its position in Payoneer Global by 68.4% in the 4th quarter. Wellington Management Group LLP now owns 7,784,978 shares of the company’s stock valued at $40,014,000 after purchasing an additional 3,161,509 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Payoneer Global by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 28,579,172 shares of the company’s stock valued at $148,897,000 after buying an additional 787,509 shares during the last quarter. Insight Wealth Strategies LLC boosted its stake in shares of Payoneer Global by 176.4% during the first quarter. Insight Wealth Strategies LLC now owns 356,666 shares of the company’s stock worth $1,733,000 after buying an additional 227,604 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Payoneer Global by 4.2% during the first quarter. Principal Financial Group Inc. now owns 1,579,996 shares of the company’s stock worth $7,679,000 after buying an additional 64,126 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in Payoneer Global by 27.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock valued at $46,000 after acquiring an additional 2,074 shares during the period. 82.22% of the stock is currently 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.