Payoneer Global (NASDAQ:PAYO) Shares Gap Down – What’s Next?

Payoneer Global Inc. (NASDAQ:PAYO) gapped down prior to trading on Friday . The stock had previously closed at $7.56, but opened at $7.21. Payoneer Global shares last traded at $7.44, with a volume of 512,073 shares traded.

Analyst Ratings Changes

PAYO has been the topic of a number of recent research reports. Citigroup lifted their target price on Payoneer Global from $14.50 to $16.50 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Northland Securities lifted their price target on Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Keefe, Bruyette & Woods lowered their price target on Payoneer Global from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Friday, February 28th. Wolfe Research downgraded Payoneer Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Payoneer Global in a research note on Monday, February 3rd. They issued a “buy” rating and a $13.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Payoneer Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.07.

Payoneer Global Stock Down 1.3 %

The business has a 50-day simple moving average of $9.49 and a two-hundred day simple moving average of $9.29. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 2.88 and a beta of 0.97.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly 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 company had revenue of $261.74 million during the quarter, compared to analyst estimates of $242.14 million. During the same period in the prior year, the firm earned $0.05 EPS. As a group, equities analysts anticipate that Payoneer Global Inc. will post 0.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Beatrice Ordonez sold 85,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $10.40, for a total transaction of $884,000.00. Following the completion of the transaction, the chief financial officer now owns 2,305,245 shares of the company’s stock, valued at approximately $23,974,548. The trade was a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tsafi Goldman sold 96,350 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $10.07, for a total value of $970,244.50. Following the transaction, the insider now directly 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. Insiders own 5.57% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

Several large investors have recently made changes to their positions in the business. Blue Trust Inc. lifted its position in shares of Payoneer Global by 21.2% during the 4th quarter. Blue Trust Inc. now owns 5,380 shares of the company’s stock worth $54,000 after purchasing an additional 940 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Payoneer Global by 1.2% during the 4th quarter. Maryland State Retirement & Pension System now owns 86,467 shares of the company’s stock worth $868,000 after purchasing an additional 1,002 shares during the last quarter. Fifth Third Bancorp increased its stake in Payoneer Global by 29.3% during the fourth quarter. Fifth Third Bancorp now owns 4,488 shares of the company’s stock valued at $45,000 after acquiring an additional 1,016 shares during the period. State of Alaska Department of Revenue increased its stake in Payoneer Global by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 145,923 shares of the company’s stock valued at $1,465,000 after acquiring an additional 1,498 shares during the period. Finally, Summit Investment Advisors Inc. increased its stake in Payoneer Global by 5.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 30,355 shares of the company’s stock valued at $305,000 after acquiring an additional 1,663 shares during the period. Institutional investors and hedge funds own 82.22% of the company’s stock.

Payoneer Global Company Profile

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.