Payoneer Global (NASDAQ:PAYO) Downgraded by Wolfe Research to “Peer Perform”

Payoneer Global (NASDAQ:PAYO) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “peer perform” rating in a report issued on Wednesday,Briefing.com Automated Import reports.

PAYO has been the topic of a number of other research reports. Needham & Company LLC increased their price objective on Payoneer Global from $10.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods cut their target price on Payoneer Global from $12.00 to $11.00 and set a “market perform” rating for the company in a research report on Monday. The Goldman Sachs Group boosted their price target on Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Benchmark boosted their price objective on Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Northland Securities upped their price objective on Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Payoneer Global currently has a consensus rating of “Moderate Buy” and an average target price of $11.21.

Payoneer Global Price Performance

Shares of Payoneer Global stock opened at $10.38 on Wednesday. Payoneer Global has a 1-year low of $4.22 and a 1-year high of $11.29. The company has a market capitalization of $3.70 billion, a P/E ratio of 29.66 and a beta of 0.92. The business’s fifty day moving average price is $10.30 and its two-hundred day moving average price is $8.03.

Payoneer Global (NASDAQ:PAYO) last announced its earnings results on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.04 by $0.07. The business 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 17.78% and a net margin of 13.82%. Payoneer Global’s revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 earnings per share. On average, research analysts expect that Payoneer Global will post 0.35 earnings per share for the current fiscal year.

Insider Activity at Payoneer Global

In other news, CAO Itai Perry sold 4,100 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $8.00, for a total transaction of $32,800.00. Following the completion of the sale, the chief accounting officer now directly owns 228,738 shares in the company, valued at approximately $1,829,904. This represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $10.32, for a total transaction of $77,400,000.00. Following the transaction, the insider now directly owns 34,197,116 shares of the company’s stock, valued at $352,914,237.12. This represents a 17.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,918,725 shares of company stock worth $81,647,314. Insiders own 5.57% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

Large investors have recently added to or reduced their stakes in the stock. AXA S.A. increased its holdings in Payoneer Global by 1,394.5% in the 2nd quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock valued at $78,538,000 after acquiring an additional 13,227,884 shares during the last quarter. Azora Capital LP purchased a new position in Payoneer Global in the third quarter valued at $31,901,000. Legion Partners Asset Management LLC acquired a new stake in shares of Payoneer Global in the second quarter valued at about $12,360,000. American Century Companies Inc. boosted its position in Payoneer Global by 241.5% during 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 last quarter. Finally, Millennium Management LLC boosted its holdings in Payoneer Global by 17.3% in the 2nd quarter. Millennium Management LLC now owns 6,764,016 shares of the company’s stock valued at $37,473,000 after purchasing an additional 995,366 shares during the last quarter. Institutional investors 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.