Cantor Fitzgerald Upgrades Payoneer Global (NASDAQ:PAYO) to Strong-Buy

Payoneer Global (NASDAQ:PAYO) was upgraded by equities researchers at Cantor Fitzgerald to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports. Cantor Fitzgerald also issued estimates for Payoneer Global’s FY2024 earnings at $0.24 EPS.

A number of other research analysts have also issued reports on PAYO. Keefe, Bruyette & Woods upped their target price on shares of Payoneer Global from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $9.00 price objective on shares of Payoneer Global in a research report on Thursday, August 8th. Needham & Company LLC raised their target price on shares of Payoneer Global from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group boosted their price target on Payoneer Global from $6.50 to $8.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Citigroup increased their price target on Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a research note on Monday. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $8.25.

Payoneer Global Stock Up 2.6 %

Shares of NASDAQ PAYO opened at $7.10 on Monday. The firm’s 50-day moving average is $5.63 and its two-hundred day moving average is $5.30. The company has a market capitalization of $2.65 billion, a PE ratio of 23.67 and a beta of 0.82. Payoneer Global has a 12-month low of $4.22 and a 12-month high of $7.20. 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 released its quarterly earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. Payoneer Global had a return on equity of 17.56% and a net margin of 13.19%. The company had revenue of $239.50 million during the quarter, compared to analysts’ expectations of $223.12 million. During the same period in the previous year, the firm posted $0.12 earnings per share. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts anticipate that Payoneer Global will post 0.23 EPS for the current fiscal year.

Insider Activity at Payoneer Global

In other Payoneer Global news, Director Scott H. Galit sold 400,300 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $5.34, for a total transaction of $2,137,602.00. Following the completion of the sale, the director now directly owns 2,122,421 shares in the company, valued at $11,333,728.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 transaction of $81,764.13. Following the transaction, the director now owns 2,422,421 shares in the company, valued at approximately $14,074,266.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott H. Galit sold 400,300 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $5.34, for a total transaction of $2,137,602.00. Following the sale, the director now directly owns 2,122,421 shares of the company’s stock, valued at $11,333,728.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,760,155 shares of company stock worth $9,573,509. 5.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PAYO. Sei Investments Co. grew its stake in shares of Payoneer Global by 4.5% in the second quarter. Sei Investments Co. now owns 182,727 shares of the company’s stock valued at $1,012,000 after buying an additional 7,903 shares in the last quarter. XTX Topco Ltd grew its position in Payoneer Global by 254.7% in the second quarter. XTX Topco Ltd now owns 49,434 shares of the company’s stock valued at $274,000 after acquiring an additional 35,497 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Payoneer Global by 18.1% during the second quarter. Renaissance Technologies LLC now owns 3,444,322 shares of the company’s stock valued at $19,082,000 after purchasing an additional 527,222 shares during the period. Citizens Financial Group Inc. RI acquired a new position in shares of Payoneer Global during the second quarter worth $94,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Payoneer Global by 22.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,593,005 shares of the company’s stock valued at $25,446,000 after purchasing an additional 849,680 shares during the period. Institutional investors and hedge funds own 82.22% of the company’s stock.

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.