Payoneer Global (NASDAQ:PAYO) Given New $8.00 Price Target at Keefe, Bruyette & Woods

Payoneer Global (NASDAQ:PAYO) had its price target lifted by Keefe, Bruyette & Woods from $7.00 to $8.00 in a research report released on Thursday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts also recently weighed in on PAYO. Benchmark reiterated a buy rating and issued a $9.00 price target on shares of Payoneer Global in a research report on Tuesday, May 14th. Needham & Company LLC increased their price objective on shares of Payoneer Global from $8.00 to $9.00 and gave the stock a buy rating in a research note on Thursday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Payoneer Global presently has a consensus rating of Buy and a consensus target price of $7.83.

Payoneer Global Stock Performance

Payoneer Global stock traded up $0.02 during midday trading on Thursday, reaching $6.73. 4,088,960 shares of the company traded hands, compared to its average volume of 2,645,287. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 22.43 and a beta of 0.82. The business has a 50 day moving average of $5.59 and a two-hundred day moving average of $5.27. Payoneer Global has a 12 month low of $4.22 and a 12 month high of $6.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.09 and a quick ratio of 1.09.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 13.19% and a return on equity of 17.56%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.12 earnings per share. As a group, research analysts predict that Payoneer Global will post 0.23 earnings per share for the current year.

Insider Activity at Payoneer Global

In related news, CAO Itai Perry sold 6,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $6.00, for a total transaction of $36,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 233,639 shares of the company’s stock, valued at $1,401,834. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Payoneer Global news, Director Scott H. Galit sold 14,073 shares of Payoneer Global stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $5.81, for a total value of $81,764.13. Following the completion of the transaction, the director now directly owns 2,422,421 shares of the company’s stock, valued at approximately $14,074,266.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Itai Perry sold 6,000 shares of Payoneer Global stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $6.00, for a total transaction of $36,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 233,639 shares of the company’s stock, valued at $1,401,834. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,783,948 shares of company stock valued at $9,713,888. Corporate insiders own 5.57% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. bought a new stake in shares of Payoneer Global in the 4th quarter worth about $29,000. SageView Advisory Group LLC bought a new stake in shares of Payoneer Global in the 1st quarter worth about $39,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Payoneer Global by 27.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock worth $46,000 after acquiring an additional 2,074 shares during the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Payoneer Global in the 4th quarter worth about $56,000. Finally, Sage Rhino Capital LLC bought a new stake in shares of Payoneer Global in the 2nd quarter worth about $56,000. 82.22% of the stock is 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.