Payoneer Global (NASDAQ:PAYO) Price Target Raised to $8.00

Payoneer Global (NASDAQ:PAYO) had its target price increased by The Goldman Sachs Group from $6.50 to $8.00 in a report issued on Thursday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other analysts have also recently issued reports about the stock. Needham & Company LLC raised their price target on shares of Payoneer Global from $8.00 to $9.00 and gave the stock a buy rating in a report on Thursday. Keefe, Bruyette & Woods raised their price objective on shares of Payoneer Global from $7.00 to $8.00 and gave the stock an outperform rating in a research note on Thursday. Finally, Benchmark reissued a buy rating and issued a $9.00 price target on shares of Payoneer Global in a report on Thursday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Payoneer Global currently has a consensus rating of Buy and a consensus price target of $7.83.

Payoneer Global Price Performance

Shares of Payoneer Global stock traded up $0.02 during trading on Thursday, hitting $6.73. The stock had a trading volume of 4,088,960 shares, compared to its average volume of 2,645,287. The business has a fifty day moving average of $5.59 and a two-hundred day moving average of $5.27. Payoneer Global has a fifty-two week low of $4.22 and a fifty-two week 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. The firm has a market cap of $2.51 billion, a P/E ratio of 22.43 and a beta of 0.82.

Payoneer Global (NASDAQ:PAYO) last issued its earnings results on Wednesday, August 7th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. The business had revenue of $239.50 million during the quarter, compared to analysts’ expectations of $223.12 million. Payoneer Global had a return on equity of 17.56% and a net margin of 13.19%. Payoneer Global’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.12 earnings per share. On average, sell-side analysts expect that Payoneer Global will post 0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Payoneer Global news, CAO Itai Perry sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $6.00, for a total transaction of $36,000.00. Following the transaction, the chief accounting officer now owns 233,639 shares in the company, valued at $1,401,834. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Scott H. Galit sold 10,601 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $5.52, for a total value of $58,517.52. Following the completion of the sale, the director now owns 2,122,421 shares of the company’s stock, valued at approximately $11,715,763.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Itai Perry sold 6,000 shares of the 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 sale, the chief accounting officer now owns 233,639 shares of the company’s stock, valued at approximately $1,401,834. The disclosure for this sale can be found here. Insiders sold a total of 1,783,948 shares of company stock valued at $9,713,888 over the last three months. Company insiders own 5.57% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

A number of hedge funds and other institutional investors have recently bought and sold shares of PAYO. Natixis acquired a new position in shares of Payoneer Global during the 1st quarter worth approximately $3,106,000. Tidal Investments LLC acquired a new stake in Payoneer Global during the first quarter worth approximately $986,000. Allianz Asset Management GmbH boosted its stake in Payoneer Global by 43.5% in the 4th quarter. Allianz Asset Management GmbH now owns 906,735 shares of the company’s stock valued at $4,724,000 after purchasing an additional 274,942 shares during the period. Janus Henderson Group PLC boosted its holdings in Payoneer Global by 131.6% in the 1st quarter. Janus Henderson Group PLC now owns 358,940 shares of the company’s stock valued at $1,744,000 after purchasing an additional 203,943 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Payoneer Global by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,790,400 shares of the company’s stock valued at $23,283,000 after buying an additional 178,842 shares in the last quarter. Institutional investors own 82.22% of the company’s stock.

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.