Payoneer Global (NASDAQ:PAYO) Stock Price Up 7% – What’s Next?

Payoneer Global Inc. (NASDAQ:PAYO)’s stock price traded up 7% during mid-day trading on Monday . The company traded as high as $6.98 and last traded at $6.94. 606,553 shares were traded during trading, a decline of 81% from the average session volume of 3,205,094 shares. The stock had previously closed at $6.48.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. The Goldman Sachs Group dropped their price target on Payoneer Global from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Citigroup reaffirmed a “buy” rating and set a $10.00 price objective (down from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. Keefe, Bruyette & Woods raised Payoneer Global from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $7.00 to $9.00 in a research report on Tuesday, May 13th. Jefferies Financial Group increased their price objective on Payoneer Global from $8.00 to $8.50 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Finally, Needham & Company LLC decreased their price objective on Payoneer Global from $14.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $10.44.

Payoneer Global Stock Performance

The stock has a market capitalization of $2.50 billion, a P/E ratio of 23.08 and a beta of 0.98. The business has a 50 day simple moving average of $6.84 and a 200-day simple moving average of $8.01.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $246.62 million for the quarter, compared to the consensus estimate of $244.52 million. Payoneer Global had a return on equity of 15.70% and a net margin of 11.32%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 earnings per share. Equities research analysts forecast that Payoneer Global Inc. will post 0.34 EPS for the current fiscal year.

Insider Activity

In related news, Director Susanna Morgan sold 16,180 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $6.77, for a total transaction of $109,538.60. Following the completion of the sale, the director directly owned 80,902 shares in the company, valued at approximately $547,706.54. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.58% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

Several institutional investors have recently bought and sold shares of PAYO. Maryland State Retirement & Pension System boosted its holdings in shares of Payoneer Global by 1.2% during the 4th quarter. Maryland State Retirement & Pension System now owns 86,467 shares of the company’s stock worth $868,000 after buying an additional 1,002 shares during the period. Summit Investment Advisors Inc. increased its stake in shares of Payoneer Global by 5.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 30,355 shares of the company’s stock worth $305,000 after purchasing an additional 1,663 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Payoneer Global by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,016 shares of the company’s stock worth $132,000 after purchasing an additional 1,808 shares during the period. Bank of Montreal Can increased its stake in shares of Payoneer Global by 8.6% in the fourth quarter. Bank of Montreal Can now owns 28,613 shares of the company’s stock worth $287,000 after purchasing an additional 2,258 shares during the period. Finally, Xponance Inc. increased its stake in shares of Payoneer Global by 12.5% in the fourth quarter. Xponance Inc. now owns 20,711 shares of the company’s stock worth $208,000 after purchasing an additional 2,303 shares during the period. 82.22% of the stock is currently owned by institutional investors.

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.