Benchmark Increases Payoneer Global (NASDAQ:PAYO) Price Target to $10.00

Payoneer Global (NASDAQ:PAYO) had its target price hoisted by stock analysts at Benchmark from $9.00 to $10.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price objective would indicate a potential upside of 18.62% from the stock’s current price.

PAYO has been the topic of a number of other reports. The Goldman Sachs Group lifted their price target on Payoneer Global from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods boosted their target price on shares of Payoneer Global from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Cantor Fitzgerald upgraded shares of Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Northland Securities raised their price objective on shares of Payoneer Global from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, Citigroup upped their target price on shares of Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a research report on Monday, August 12th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $8.93.

Payoneer Global Stock Performance

Shares of PAYO opened at $8.43 on Tuesday. The stock has a market capitalization of $3.15 billion, a P/E ratio of 28.10 and a beta of 0.85. Payoneer Global has a 1 year low of $4.22 and a 1 year high of $8.56. The company’s fifty day moving average is $7.49 and its two-hundred day moving average is $6.22.

Payoneer Global (NASDAQ:PAYO) last issued its earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. The business had revenue of $239.50 million for the quarter, compared to the consensus estimate of $223.12 million. Payoneer Global had a net margin of 11.25% and a return on equity of 15.28%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 earnings per share. Sell-side analysts predict that Payoneer Global will post 0.25 EPS for the current year.

Insider Buying and Selling at Payoneer Global

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

Hedge Funds Weigh In On Payoneer Global

Several institutional investors and hedge funds have recently modified their holdings of PAYO. Vanguard Group Inc. grew its stake in Payoneer Global by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 28,579,172 shares of the company’s stock worth $148,897,000 after acquiring an additional 787,509 shares during the period. Principal Financial Group Inc. increased its stake in Payoneer Global by 4.2% in the first quarter. Principal Financial Group Inc. now owns 1,579,996 shares of the company’s stock valued at $7,679,000 after purchasing an additional 64,126 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in Payoneer Global by 27.8% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock worth $46,000 after buying an additional 2,074 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Payoneer Global by 6.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 563,060 shares of the company’s stock worth $2,736,000 after buying an additional 33,491 shares during the period. Finally, Capstone Investment Advisors LLC acquired a new stake in Payoneer Global in the 1st quarter worth about $313,000. Hedge funds and other 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.