Citigroup Issues Positive Forecast for Payoneer Global (NASDAQ:PAYO) Stock Price

Payoneer Global (NASDAQ:PAYO) had its price target raised by equities research analysts at Citigroup from $8.50 to $13.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 30.00% from the stock’s previous close.

A number of other research firms have also weighed in on PAYO. The Goldman Sachs Group upped their price objective on Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods lowered their target price 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, January 6th. Benchmark raised their price target on Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Wolfe Research downgraded shares of Payoneer Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Finally, Needham & Company LLC lifted their price objective on shares of Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Payoneer Global has a consensus rating of “Moderate Buy” and an average target price of $11.86.

Payoneer Global Price Performance

Shares of NASDAQ:PAYO traded up $0.09 during trading on Tuesday, hitting $10.00. The company’s stock had a trading volume of 1,275,326 shares, compared to its average volume of 2,672,735. The company has a 50-day moving average of $10.41 and a 200-day moving average of $8.15. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 28.57 and a beta of 0.92. Payoneer Global has a 12 month low of $4.22 and a 12 month high of $11.29.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $248.30 million during the quarter, compared to the consensus estimate of $225.44 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. As a group, research analysts anticipate that Payoneer Global will post 0.35 earnings per share for the current year.

Insider Activity at Payoneer Global

In other Payoneer Global 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 value of $77,400,000.00. Following the sale, the insider now owns 34,197,116 shares in the company, valued at $352,914,237.12. This trade represents a 17.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tsafi Goldman sold 96,350 shares of Payoneer Global stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $10.07, for a total value of $970,244.50. Following the sale, the insider now owns 741,748 shares of the company’s stock, valued at approximately $7,469,402.36. This trade represents a 11.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,914,625 shares of company stock worth $81,614,514. Insiders own 5.57% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

A number of institutional investors have recently modified their holdings of the stock. AXA S.A. grew its stake in Payoneer Global by 1,394.5% in the second quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock worth $78,538,000 after purchasing an additional 13,227,884 shares in the last quarter. Azora Capital LP purchased a new position in shares of Payoneer Global during the third quarter valued at $31,901,000. Legion Partners Asset Management LLC purchased a new position in shares of Payoneer Global during the second quarter valued at $12,360,000. American Century Companies Inc. lifted its stake in Payoneer Global by 241.5% in the second quarter. American Century Companies Inc. now owns 1,643,744 shares of the company’s stock worth $9,106,000 after acquiring an additional 1,162,481 shares during the period. Finally, Millennium Management LLC grew its holdings in Payoneer Global by 17.3% during the 2nd quarter. Millennium Management LLC now owns 6,764,016 shares of the company’s stock worth $37,473,000 after acquiring an additional 995,366 shares in the last quarter. 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.