Payoneer Global (NASDAQ:PAYO) Shares Gap Down – What’s Next?

Shares of Payoneer Global Inc. (NASDAQ:PAYO) gapped down before the market opened on Friday . The stock had previously closed at $10.07, but opened at $9.61. Payoneer Global shares last traded at $9.94, with a volume of 468,965 shares changing hands.

Analyst Upgrades and Downgrades

PAYO has been the subject of a number of recent research reports. Needham & Company LLC lifted their price target on shares of Payoneer Global from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Northland Securities increased their price objective on shares of Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. The Goldman Sachs Group lifted their target price on Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods downgraded Payoneer Global from an “outperform” rating to a “market perform” rating and set a $12.00 price target on the stock. in a report on Monday, December 9th. Finally, Benchmark boosted their target price on Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $11.36.

Payoneer Global Stock Up 0.8 %

The firm’s fifty day moving average price is $9.81 and its 200 day moving average price is $7.59. The stock has a market cap of $3.62 billion, a PE ratio of 29.00 and a beta of 0.90.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 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 the consensus estimate of $225.44 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The business’s revenue was up 19.4% on a year-over-year basis. As a group, analysts anticipate that Payoneer Global Inc. will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Tsafi Goldman sold 263,873 shares of Payoneer Global stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $10.10, for a total transaction of $2,665,117.30. Following the completion of the transaction, the insider now directly owns 741,748 shares of the company’s stock, valued at approximately $7,491,654.80. The trade was a 26.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Itai Perry sold 4,100 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 owns 228,738 shares in the company, valued at approximately $1,829,904. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,826,275 shares of company stock worth $80,708,269. Corporate insiders own 5.57% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. grew its position in shares of Payoneer Global by 17.1% in the 2nd quarter. Victory Capital Management Inc. now owns 4,417,785 shares of the company’s stock worth $24,475,000 after buying an additional 645,887 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Payoneer Global by 3.0% during the third 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 last quarter. Quest Partners LLC acquired a new position in shares of Payoneer Global during the third quarter valued at about $415,000. Wedge Capital Management L L P NC purchased a new position in shares of Payoneer Global in the 3rd quarter valued at approximately $1,509,000. Finally, Great Lakes Advisors LLC grew its position in Payoneer Global by 172.1% during the 2nd quarter. Great Lakes Advisors LLC now owns 763,037 shares of the company’s stock worth $4,227,000 after purchasing an additional 482,590 shares during the last quarter. 82.22% of the stock is currently owned by 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.