Payoneer Global (NASDAQ:PAYO) Rating Lowered to “Peer Perform” at Wolfe Research

Payoneer Global (NASDAQ:PAYO) was downgraded by Wolfe Research from an “outperform” rating to a “peer perform” rating in a report issued on Wednesday, Marketbeat Ratings reports.

Several other equities research analysts have also commented on the stock. Northland Securities boosted their price target on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Keefe, Bruyette & Woods reduced their price target on shares of Payoneer Global from $12.00 to $11.00 and set a “market perform” rating for the company in a research report on Monday. Benchmark lifted their price objective on Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group increased their target price on Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Needham & Company LLC lifted their price target on Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.21.

Payoneer Global Price Performance

Shares of NASDAQ PAYO opened at $10.07 on Wednesday. The firm’s 50 day simple moving average is $10.35 and its 200-day simple moving average is $8.06. Payoneer Global has a 12 month low of $4.22 and a 12 month high of $11.29. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 28.77 and a beta of 0.92.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The company had revenue of $248.30 million during the quarter, compared to analysts’ expectations of $225.44 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. Analysts anticipate that Payoneer Global 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 the stock in a transaction that occurred on 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 owns 741,748 shares of the company’s stock, valued at approximately $7,491,654.80. This trade represents a 26.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Itai Perry sold 4,100 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,829,904. The trade was a 1.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,918,725 shares of company stock worth $81,647,314. Company insiders own 5.57% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

A number of institutional investors have recently modified their holdings of PAYO. Nordea Investment Management AB boosted its holdings in Payoneer Global by 4.9% during the 4th quarter. Nordea Investment Management AB now owns 881,026 shares of the company’s stock valued at $8,951,000 after acquiring an additional 41,106 shares during the period. GAMMA Investing LLC boosted its stake in shares of Payoneer Global by 41.7% in the fourth quarter. GAMMA Investing LLC now owns 8,241 shares of the company’s stock valued at $83,000 after purchasing an additional 2,425 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of Payoneer Global in the third quarter valued at approximately $6,064,000. Tidal Investments LLC increased its stake in Payoneer Global by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 195,407 shares of the company’s stock worth $1,471,000 after buying an additional 8,637 shares during the period. Finally, Barclays PLC boosted its position in Payoneer Global by 352.8% in the 3rd quarter. Barclays PLC now owns 498,727 shares of the company’s stock valued at $3,755,000 after buying an additional 388,584 shares during the period. 82.22% of the stock is 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.