Payoneer Global (NASDAQ:PAYO) Price Target Raised to $14.00

Payoneer Global (NASDAQ:PAYO) had its price objective lifted by Northland Securities from $13.00 to $14.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the company. Benchmark upped their target price on Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods raised their price objective on Payoneer Global from $9.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Citigroup increased their price target on shares of Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, August 12th. Needham & Company LLC raised their price target on shares of Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Cantor Fitzgerald raised shares of Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $11.36.

Payoneer Global Price Performance

Shares of PAYO stock opened at $10.95 on Friday. The stock’s fifty day moving average price is $9.35 and its 200 day moving average price is $7.35. Payoneer Global has a 1-year low of $4.22 and a 1-year high of $11.29. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 31.29 and a beta of 0.90.

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

Insider Transactions at Payoneer Global

In related news, CAO Itai Perry sold 3,900 shares of Payoneer Global stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $8.00, for a total value of $31,200.00. Following the completion of the transaction, the chief accounting officer now owns 228,738 shares in the company, valued at $1,829,904. The trade was a 1.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 34,197,116 shares of the company’s stock, 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. Insiders have sold 7,562,402 shares of company stock valued at $78,043,152 in the last 90 days. 5.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Payoneer Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in Payoneer Global during the second quarter valued at $29,000. Blue Trust Inc. lifted its stake in Payoneer Global by 135.2% in the 3rd quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock valued at $33,000 after buying an additional 2,552 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Payoneer Global by 438.5% in the 3rd quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock worth $44,000 after buying an additional 4,736 shares during the last quarter. Sage Rhino Capital LLC purchased a new stake in Payoneer Global during the 2nd quarter worth approximately $56,000. Finally, FSC Wealth Advisors LLC acquired a new position in shares of Payoneer Global during the third quarter valued at approximately $68,000. 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.