Citigroup Forecasts Strong Price Appreciation for Payoneer Global (NASDAQ:PAYO) Stock

Payoneer Global (NASDAQ:PAYO) had its target price raised by research analysts at Citigroup from $14.50 to $16.50 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 97.84% from the stock’s previous close.

A number of other equities analysts also recently commented on PAYO. Keefe, Bruyette & Woods decreased their target price on Payoneer Global from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Payoneer Global in a research report on Monday, February 3rd. They set a “buy” rating and a $13.00 price objective for the company. Needham & Company LLC increased their target price on Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Wolfe Research cut Payoneer Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Finally, Northland Securities upped their price target on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.07.

Payoneer Global Trading Up 4.3 %

PAYO stock opened at $8.34 on Tuesday. The stock’s 50 day simple moving average is $10.16 and its 200 day simple moving average is $9.28. Payoneer Global has a 12-month low of $4.22 and a 12-month high of $11.29. The firm has a market cap of $2.97 billion, a P/E ratio of 23.83, a P/E/G ratio of 2.88 and a beta of 0.93.

Payoneer Global (NASDAQ:PAYO) last issued its earnings results on Thursday, February 27th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The business had revenue of $261.74 million for the quarter, compared to analyst estimates of $242.14 million. During the same period last year, the company posted $0.05 earnings per share. On average, research analysts forecast that Payoneer Global will post 0.34 EPS for the current fiscal year.

Insider Transactions at Payoneer Global

In related news, CFO Beatrice Ordonez sold 85,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $10.40, for a total value of $884,000.00. Following the completion of the sale, the chief financial officer now owns 2,305,245 shares of the company’s stock, valued at $23,974,548. This represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tsafi Goldman sold 96,350 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $10.07, for a total transaction of $970,244.50. Following the completion of the transaction, the insider now owns 741,748 shares of the company’s stock, valued at $7,469,402.36. This represents a 11.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 445,223 shares of company stock valued at $4,519,362. 5.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Susquehanna Capital Management LLC boosted its stake in Payoneer Global by 290.3% during the 4th quarter. Susquehanna Capital Management LLC now owns 25,268,954 shares of the company’s stock valued at $253,700,000 after purchasing an additional 18,794,047 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Payoneer Global by 5.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,709,989 shares of the company’s stock worth $87,450,000 after buying an additional 440,231 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Payoneer Global by 24.8% in the fourth quarter. American Century Companies Inc. now owns 8,166,652 shares of the company’s stock valued at $81,993,000 after buying an additional 1,624,948 shares during the period. Geode Capital Management LLC boosted its stake in Payoneer Global by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 6,777,377 shares of the company’s stock valued at $68,059,000 after buying an additional 156,252 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Payoneer Global by 0.3% during the fourth quarter. Millennium Management LLC now owns 6,523,595 shares of the company’s stock worth $65,497,000 after acquiring an additional 21,149 shares during the period. Institutional investors and hedge funds 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.