Payoneer Global Inc. (NASDAQ:PAYO) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Payoneer Global Inc. (NASDAQ:PAYO) have received a consensus rating of “Buy” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $10.79.

PAYO has been the topic of several analyst reports. Northland Securities lifted their target price on Payoneer Global from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald upgraded Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. Needham & Company LLC boosted their price target on Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research report 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, The Goldman Sachs Group increased their target price on Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th.

Insider Transactions at Payoneer Global

In other news, insider Crossover Managemen Technology sold 7,500,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $10.32, for a total value of $77,400,000.00. Following the completion of the sale, the insider now owns 34,197,116 shares in the company, valued at $352,914,237.12. This represents a 17.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Itai Perry sold 3,900 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $8.00, for a total value of $31,200.00. Following the completion of the sale, the chief accounting officer now owns 228,738 shares of the company’s stock, valued at $1,829,904. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,710,829 shares of company stock worth $79,086,601. Company insiders own 5.57% of the company’s stock.

Institutional Trading of Payoneer Global

A number of hedge funds have recently modified their holdings of PAYO. Natixis purchased a new stake in shares of Payoneer Global during the first quarter worth $3,106,000. Janus Henderson Group PLC raised its holdings in shares of Payoneer Global by 131.6% during the first quarter. Janus Henderson Group PLC now owns 358,940 shares of the company’s stock worth $1,744,000 after acquiring an additional 203,943 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Payoneer Global during the first quarter worth $986,000. Victory Capital Management Inc. raised its holdings in shares of Payoneer Global by 17.1% during the second quarter. Victory Capital Management Inc. now owns 4,417,785 shares of the company’s stock worth $24,475,000 after acquiring an additional 645,887 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in Payoneer Global by 7.5% during the first quarter. ProShare Advisors LLC now owns 53,333 shares of the company’s stock valued at $259,000 after buying an additional 3,730 shares in the last quarter. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Payoneer Global Trading Up 0.2 %

Payoneer Global stock opened at $10.85 on Thursday. The firm has a 50 day moving average of $8.56 and a 200 day moving average of $6.91. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 31.00 and a beta of 0.82. Payoneer Global has a 12-month low of $4.22 and a 12-month high of $10.96.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The company had revenue of $248.30 million during the quarter, compared to the consensus estimate of $225.44 million. During the same period last year, the company earned $0.05 earnings per share. Payoneer Global’s revenue was up 19.4% on a year-over-year basis. On average, analysts predict that Payoneer Global will post 0.32 EPS for the current year.

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.