The Goldman Sachs Group Issues Pessimistic Forecast for Payoneer Global (NASDAQ:PAYO) Stock Price

Payoneer Global (NASDAQ:PAYO) had its price objective decreased by equities research analysts at The Goldman Sachs Group from $11.00 to $9.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 33.73% from the company’s current price.

Several other brokerages have also recently issued reports on PAYO. Citigroup raised their price objective on Payoneer Global from $14.50 to $16.50 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Northland Securities lifted their target price on Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Wolfe Research lowered Payoneer Global from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods cut their target price on Payoneer Global from $10.00 to $8.00 and set a “market perform” rating on the stock in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Payoneer Global in a research report on Monday, February 3rd. They set a “buy” rating and a $13.00 price target for the company. Two investment 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.36.

Payoneer Global Stock Down 10.9 %

Shares of PAYO opened at $6.73 on Wednesday. Payoneer Global has a 52-week low of $4.69 and a 52-week high of $11.29. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 2.88 and a beta of 0.97. The business’s 50 day moving average is $8.96 and its two-hundred day moving average is $9.29.

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

Insider Buying and Selling at Payoneer Global

In other Payoneer Global news, CFO Beatrice Ordonez sold 85,000 shares of the stock in a transaction on 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 directly owns 2,305,245 shares of the company’s stock, valued at approximately $23,974,548. This trade represents a 3.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.57% of the stock is owned by corporate insiders.

Institutional Trading of Payoneer Global

A number of hedge funds and other institutional investors have recently modified their holdings of PAYO. Quarry LP bought a new stake in Payoneer Global in the fourth quarter worth about $29,000. Smartleaf Asset Management LLC grew its holdings in shares of Payoneer Global by 405.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company’s stock worth $38,000 after acquiring an additional 3,064 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Payoneer Global by 29.3% during the fourth quarter. Fifth Third Bancorp now owns 4,488 shares of the company’s stock worth $45,000 after purchasing an additional 1,016 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Payoneer Global by 420.6% during the first quarter. Versant Capital Management Inc now owns 5,034 shares of the company’s stock valued at $37,000 after purchasing an additional 4,067 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Payoneer Global by 21.2% in the 4th quarter. Blue Trust Inc. now owns 5,380 shares of the company’s stock valued at $54,000 after purchasing an additional 940 shares during the period. 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.