Payoneer Global (NASDAQ:PAYO) Hits New 52-Week High – Still a Buy?

Payoneer Global Inc. (NASDAQ:PAYO)’s share price reached a new 52-week high on Friday . The stock traded as high as $7.80 and last traded at $7.76, with a volume of 143108 shares. The stock had previously closed at $7.67.

Analyst Ratings Changes

Several equities research analysts have issued reports on PAYO shares. Keefe, Bruyette & Woods raised their price target on shares of Payoneer Global from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Cantor Fitzgerald upgraded shares of Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. Northland Securities lifted their target price on shares of Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Needham & Company LLC increased their price target on Payoneer Global from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Benchmark restated a “buy” rating and set a $9.00 price objective on shares of Payoneer Global in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $8.50.

Payoneer Global Stock Performance

The firm has a fifty day moving average of $7.00 and a 200 day moving average of $5.93. The firm has a market capitalization of $2.88 billion, a PE ratio of 25.70 and a beta of 0.85.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. The company had revenue of $239.50 million for the quarter, compared to the consensus estimate of $223.12 million. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. Payoneer Global’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 EPS. Research analysts forecast that Payoneer Global Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Activity at Payoneer Global

In other news, Director Scott H. Galit sold 446,104 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $5.50, for a total transaction of $2,453,572.00. Following the sale, the director now directly owns 2,122,421 shares in the company, valued at approximately $11,673,315.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Payoneer Global news, Director Scott H. Galit sold 10,601 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $5.52, for a total transaction of $58,517.52. Following the completion of the transaction, the director now directly owns 2,122,421 shares of the company’s stock, valued at $11,715,763.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Scott H. Galit sold 446,104 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $5.50, for a total transaction of $2,453,572.00. Following the completion of the sale, the director now owns 2,122,421 shares in the company, valued at $11,673,315.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,007,005 shares of company stock valued at $5,710,192. Corporate insiders own 5.57% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

Several institutional investors have recently bought and sold shares of PAYO. Handelsbanken Fonder AB lifted its holdings in shares of Payoneer Global by 62.7% in the third quarter. Handelsbanken Fonder AB now owns 72,900 shares of the company’s stock valued at $549,000 after buying an additional 28,100 shares during the period. Cubist Systematic Strategies LLC raised its position in Payoneer Global by 108.6% in the second quarter. Cubist Systematic Strategies LLC now owns 509,003 shares of the company’s stock worth $2,820,000 after acquiring an additional 264,978 shares in the last quarter. Nantahala Capital Management LLC lifted its holdings in Payoneer Global by 16.2% in the 2nd quarter. Nantahala Capital Management LLC now owns 2,115,653 shares of the company’s stock valued at $11,721,000 after acquiring an additional 294,227 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Payoneer Global by 13.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 387,864 shares of the company’s stock valued at $2,149,000 after purchasing an additional 45,768 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Payoneer Global in the 2nd quarter worth approximately $29,000. 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.