The Goldman Sachs Group Issues Pessimistic Forecast for Payoneer Global (NASDAQ:PAYO) Stock Price

Payoneer Global (NASDAQ:PAYO) had its target price cut by The Goldman Sachs Group from $11.00 to $9.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently weighed in on PAYO. Citigroup raised their price objective on shares of Payoneer Global from $14.50 to $16.50 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft started coverage on Payoneer Global in a research report on Monday, February 3rd. They set a “buy” rating and a $13.00 price target for the company. Northland Securities upped their price objective on Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Keefe, Bruyette & Woods dropped their price objective on Payoneer Global from $10.00 to $8.00 and set a “market perform” rating for the company in a research report on Monday, March 31st. Finally, Wolfe Research downgraded shares of Payoneer Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.36.

Payoneer Global Trading Down 7.7 %

PAYO stock opened at $6.21 on Wednesday. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 2.88 and a beta of 0.97. The firm has a 50 day moving average of $8.88 and a 200-day moving average of $9.29. Payoneer Global has a 12-month low of $4.69 and a 12-month high of $11.29.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The business had revenue of $261.74 million during the quarter, compared to analysts’ expectations of $242.14 million. During the same quarter in the prior year, the firm earned $0.05 earnings per share. Sell-side analysts forecast that Payoneer Global will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Beatrice Ordonez sold 85,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $10.40, for a total transaction of $884,000.00. Following the completion of the transaction, the chief financial officer now owns 2,305,245 shares of the company’s stock, valued at $23,974,548. This represents a 3.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Payoneer Global

Institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in 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 purchasing an additional 67,255 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Payoneer Global by 1.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 165,996 shares of the company’s stock worth $1,250,000 after buying an additional 1,907 shares during the period. FMR LLC raised its position in shares of Payoneer Global by 17.2% in the 3rd quarter. FMR LLC now owns 1,129,312 shares of the company’s stock worth $8,504,000 after buying an additional 165,913 shares during the period. Verition Fund Management LLC boosted its holdings in Payoneer Global by 28.6% in the third quarter. Verition Fund Management LLC now owns 142,207 shares of the company’s stock valued at $1,071,000 after acquiring an additional 31,646 shares during the last quarter. Finally, Centiva Capital LP purchased a new stake in Payoneer Global during the third quarter valued at about $121,000. 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.