Payoneer Global (NASDAQ:PAYO) Reaches New 52-Week High at $7.67

Payoneer Global Inc. (NASDAQ:PAYO) reached a new 52-week high during trading on Tuesday . The stock traded as high as $7.67 and last traded at $7.62, with a volume of 45653 shares traded. The stock had previously closed at $7.61.

Analyst Ratings Changes

Several research firms have recently weighed in on PAYO. Citigroup boosted their price objective on shares of Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a report on Monday, August 12th. Cantor Fitzgerald raised Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. The Goldman Sachs Group increased their target price on Payoneer Global from $6.50 to $8.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Benchmark restated a “buy” rating and set a $9.00 price target on shares of Payoneer Global in a research note on Thursday, August 8th. Finally, Needham & Company LLC raised their price objective on shares of Payoneer Global from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Payoneer Global currently has an average rating of “Buy” and a consensus target price of $8.50.

Payoneer Global Price Performance

The stock’s 50-day moving average is $6.62 and its two-hundred day moving average is $5.75. The stock has a market cap of $2.84 billion, a P/E ratio of 25.37 and a beta of 0.85.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $239.50 million during the quarter, compared to analysts’ expectations of $223.12 million. Payoneer Global had a net margin of 11.25% and a return on equity of 15.28%. The business’s revenue was up 15.9% on a year-over-year basis. During the same period last year, the company posted $0.12 EPS. On average, analysts anticipate that Payoneer Global Inc. will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling at Payoneer Global

In other Payoneer Global news, Director Scott H. Galit sold 10,601 shares of Payoneer Global stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $5.52, for a total transaction of $58,517.52. Following the completion of the transaction, the director now directly owns 2,122,421 shares of the company’s stock, valued at $11,715,763.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Payoneer Global news, Director Scott H. Galit sold 150,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total value of $1,060,500.00. Following the completion of the sale, the director now directly owns 1,809,674 shares of the company’s stock, valued at approximately $12,794,395.18. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Scott H. Galit sold 10,601 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $5.52, for a total value of $58,517.52. Following the completion of the sale, the director now owns 2,122,421 shares of the company’s stock, valued at approximately $11,715,763.92. The disclosure for this sale can be found here. Insiders have sold a total of 1,890,082 shares of company stock worth $10,516,245 over the last ninety days. Company insiders own 5.57% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

A number of institutional investors and hedge funds have recently bought and sold shares of PAYO. Cubist Systematic Strategies LLC raised its holdings in shares of Payoneer Global by 108.6% in the second quarter. Cubist Systematic Strategies LLC now owns 509,003 shares of the company’s stock valued at $2,820,000 after acquiring an additional 264,978 shares in the last quarter. Nantahala Capital Management LLC increased its holdings in Payoneer Global by 16.2% during the second quarter. Nantahala Capital Management LLC now owns 2,115,653 shares of the company’s stock valued at $11,721,000 after buying an additional 294,227 shares during the period. Point72 Asset Management L.P. raised its stake in Payoneer Global by 13.4% in the second quarter. Point72 Asset Management L.P. now owns 387,864 shares of the company’s stock worth $2,149,000 after buying an additional 45,768 shares in the last quarter. Quarry LP bought a new stake in Payoneer Global during the 2nd quarter valued at $29,000. Finally, Algert Global LLC increased its holdings in shares of Payoneer Global by 146.4% in the 2nd quarter. Algert Global LLC now owns 232,787 shares of the company’s stock valued at $1,290,000 after acquiring an additional 138,317 shares during the period. 82.22% of the stock is owned by 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.