Payoneer Global (NASDAQ:PAYO) Lowered to Market Perform Rating by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods cut shares of Payoneer Global (NASDAQ:PAYO) from an outperform rating to a market perform rating in a research report released on Monday, MarketBeat reports. Keefe, Bruyette & Woods currently has $12.00 price target on the stock.

PAYO has been the topic of several other reports. Needham & Company LLC lifted their price objective on Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Cantor Fitzgerald raised shares of Payoneer Global to a “strong-buy” rating in a research note on Monday, August 12th. Benchmark increased their price target on Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Northland Securities increased their target price on shares of Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday. Finally, The Goldman Sachs Group boosted 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. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Payoneer Global has an average rating of “Buy” and a consensus target price of $11.36.

Payoneer Global Price Performance

Shares of NASDAQ PAYO opened at $10.12 on Monday. The stock has a market capitalization of $3.61 billion, a P/E ratio of 28.92 and a beta of 0.90. The business has a fifty day moving average price of $9.40 and a 200 day moving average price of $7.37. Payoneer Global has a 1-year low of $4.22 and a 1-year high of $11.29.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.04 by $0.07. The company had revenue of $248.30 million for the quarter, compared to analyst estimates of $225.44 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The firm’s revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 earnings per share. As a group, equities research analysts anticipate that Payoneer Global will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Crossover Managemen Technology sold 7,500,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $10.32, for a total transaction of $77,400,000.00. Following the completion of the sale, the insider now owns 34,197,116 shares in the company, valued at approximately $352,914,237.12. This represents a 17.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Itai Perry sold 52,829 shares of Payoneer Global stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.64, for a total transaction of $562,100.56. Following the completion of the transaction, the chief accounting officer now directly owns 201,882 shares in the company, valued at approximately $2,148,024.48. This trade represents a 20.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,562,402 shares of company stock worth $78,043,152. 5.57% of the stock is currently owned by corporate insiders.

Institutional Trading of Payoneer Global

Several hedge funds and other institutional investors have recently modified their holdings of PAYO. Victory Capital Management Inc. grew its stake 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 valued at $24,475,000 after buying an additional 645,887 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in Payoneer Global in the third quarter valued at approximately $1,509,000. Quest Partners LLC bought a new stake in Payoneer Global in the third quarter worth approximately $415,000. Great Lakes Advisors LLC increased its stake in shares of 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. Finally, AXA S.A. raised its holdings in shares of Payoneer Global by 1,394.5% during the 2nd quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock valued at $78,538,000 after purchasing an additional 13,227,884 shares in the last quarter. 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.