Payoneer Global Inc. (NASDAQ:PAYO) Receives Consensus Rating of “Buy” from Analysts

Payoneer Global Inc. (NASDAQ:PAYO) has been assigned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $10.79.

Several research firms have recently commented on PAYO. Cantor Fitzgerald raised Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. The Goldman Sachs Group raised their price target on Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Benchmark lifted their target price on shares of Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods upped their price objective on Payoneer Global from $9.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Citigroup raised their price target on shares of Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a research note on Monday, August 12th.

Payoneer Global Trading Up 0.1 %

PAYO stock opened at $10.94 on Thursday. The business has a 50 day simple moving average of $8.76 and a 200-day simple moving average of $7.03. The company has a market capitalization of $3.90 billion, a P/E ratio of 31.26 and a beta of 0.82. Payoneer Global has a twelve month low of $4.22 and a twelve month high of $11.29.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.04 by $0.07. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The firm had revenue of $248.30 million during the quarter, compared to the consensus estimate of $225.44 million. During the same period in the prior year, the business earned $0.05 EPS. The firm’s revenue was up 19.4% compared to the same quarter last year. Research analysts predict that Payoneer Global will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Itai Perry sold 52,829 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.64, for a total value of $562,100.56. Following the transaction, the chief accounting officer now owns 201,882 shares in the company, valued at approximately $2,148,024.48. This trade represents a 20.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Crossover Managemen Technology sold 7,500,000 shares of Payoneer Global stock in a transaction 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 owns 34,197,116 shares in the company, valued at $352,914,237.12. The trade was a 17.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,710,829 shares of company stock valued at $79,086,601. Insiders own 5.57% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

A number of institutional investors and hedge funds have recently bought and sold shares of PAYO. AXA S.A. grew its stake in shares of Payoneer Global by 1,394.5% during the second 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 in the last quarter. Azora Capital LP bought a new stake in shares of Payoneer Global in the third quarter worth $31,901,000. Legion Partners Asset Management LLC acquired a new stake in Payoneer Global in the second quarter valued at $12,360,000. American Century Companies Inc. boosted its stake in Payoneer Global by 241.5% during the 2nd quarter. American Century Companies Inc. now owns 1,643,744 shares of the company’s stock valued at $9,106,000 after acquiring an additional 1,162,481 shares during the last quarter. 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. Hedge funds and other 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.