Payoneer Global (NASDAQ:PAYO) Announces Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Payoneer Global (NASDAQ:PAYO) released its quarterly earnings data on Tuesday. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.07, Briefing.com reports. The firm had revenue of $248.30 million during the quarter, compared to the consensus estimate of $225.44 million. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. Payoneer Global’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the business posted $0.05 EPS. Payoneer Global updated its FY 2024 guidance to EPS.

Payoneer Global Stock Up 3.2 %

PAYO traded up $0.33 during midday trading on Thursday, reaching $10.68. 4,421,226 shares of the company’s stock were exchanged, compared to its average volume of 2,690,770. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 38.33 and a beta of 0.82. Payoneer Global has a one year low of $4.22 and a one year high of $10.74. The business has a 50-day simple moving average of $7.88 and a two-hundred day simple moving average of $6.52.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PAYO shares. Keefe, Bruyette & Woods raised their price objective on Payoneer Global from $9.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday. The Goldman Sachs Group raised their price objective on Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday. Cantor Fitzgerald raised Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. Citigroup boosted their price objective on Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Northland Securities upped their target price on Payoneer Global from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Payoneer Global presently has a consensus rating of “Buy” and an average price target of $10.79.

Insider Transactions at Payoneer Global

In other Payoneer Global news, Director Scott H. Galit sold 150,000 shares of Payoneer Global stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the completion of the sale, the director now owns 1,809,674 shares of the company’s stock, valued at approximately $12,794,395.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Payoneer Global news, CAO Itai Perry sold 3,900 shares of Payoneer Global stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $8.00, for a total value of $31,200.00. Following the sale, the chief accounting officer now directly owns 228,738 shares in the company, valued at approximately $1,829,904. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott H. Galit sold 150,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the transaction, the director now owns 1,809,674 shares in the company, valued at $12,794,395.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,000 shares of company stock valued at $1,124,500. Corporate insiders own 5.57% 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.