Payoneer Global Inc. (NASDAQ:PAYO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Payoneer Global Inc. (NASDAQ:PAYO) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $11.21.

Several equities analysts recently issued reports on the company. The Goldman Sachs Group lifted their price objective on Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Benchmark lifted their price target on Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Wolfe Research cut shares of Payoneer Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday. Northland Securities raised their target price on shares of Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Payoneer Global from $12.00 to $11.00 and set a “market perform” rating on the stock in a report on Monday.

Payoneer Global Price Performance

PAYO opened at $10.07 on Friday. The business has a 50 day simple moving average of $10.35 and a 200-day simple moving average of $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 P/E ratio of 28.77 and a beta of 0.92.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, topping 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 business had revenue of $248.30 million for the quarter, compared to analysts’ expectations of $225.44 million. During the same period in the prior year, the company posted $0.05 EPS. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. Research analysts anticipate that Payoneer Global will post 0.35 EPS for the current year.

Insiders Place Their Bets

In related news, insider Tsafi Goldman sold 96,350 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $10.07, for a total transaction of $970,244.50. Following the completion of the transaction, the insider now owns 741,748 shares of the company’s stock, valued at approximately $7,469,402.36. This represents a 11.50 % decrease in their ownership of the stock. The sale 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 stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $8.00, for a total transaction of $32,800.00. Following the transaction, the chief accounting officer now directly owns 228,738 shares in the company, valued at approximately $1,829,904. This represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,918,725 shares of company stock valued at $81,647,314. Company insiders own 5.57% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its stake in shares of Payoneer Global by 1.6% during the third quarter. Van ECK Associates Corp now owns 84,209 shares of the company’s stock worth $634,000 after purchasing an additional 1,306 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Payoneer Global by 1.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 165,996 shares of the company’s stock valued at $1,250,000 after buying an additional 1,907 shares during the period. Xponance Inc. lifted its position in Payoneer Global by 12.1% during the 2nd quarter. Xponance Inc. now owns 17,928 shares of the company’s stock worth $99,000 after acquiring an additional 1,942 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in Payoneer Global by 11.7% in the 2nd quarter. Y.D. More Investments Ltd now owns 22,142 shares of the company’s stock worth $122,000 after acquiring an additional 2,328 shares during the period. Finally, GAMMA Investing LLC grew its position in 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 acquiring an additional 2,425 shares in the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

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.