Payoneer Global (NASDAQ:PAYO) Sees Strong Trading Volume on Analyst Upgrade

Shares of Payoneer Global Inc. (NASDAQ:PAYO) saw an uptick in trading volume on Monday after Citigroup raised their price target on the stock from $7.00 to $8.50. Citigroup currently has a buy rating on the stock. 1,704,055 shares traded hands during trading, a decline of 35% from the previous session’s volume of 2,639,607 shares.The stock last traded at $7.10 and had previously closed at $6.73.

PAYO has been the subject of a number of other reports. The Goldman Sachs Group increased their price target on shares of Payoneer Global from $6.50 to $8.00 and gave the stock a “buy” rating in a research note on Thursday. Benchmark restated a “buy” rating and issued a $9.00 target price on shares of Payoneer Global in a research note on Thursday. Needham & Company LLC upped their price target on Payoneer Global from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods boosted their price target on Payoneer Global from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Thursday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $8.25.

Insider Transactions at Payoneer Global

In other Payoneer Global news, Director Scott H. Galit sold 10,601 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $5.52, for a total transaction of $58,517.52. Following the transaction, the director now owns 2,122,421 shares in the company, valued at approximately $11,715,763.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Scott H. Galit sold 10,601 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $5.52, for a total value of $58,517.52. Following the completion of the sale, the director now directly owns 2,122,421 shares of the company’s stock, valued at approximately $11,715,763.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Itai Perry sold 6,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $6.00, for a total transaction of $36,000.00. Following the completion of the sale, the chief accounting officer now directly owns 233,639 shares of the company’s stock, valued at $1,401,834. The disclosure for this sale can be found here. Insiders sold 1,783,948 shares of company stock worth $9,713,888 over the last quarter. 5.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Payoneer Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Natixis purchased a new position in Payoneer Global in the first quarter worth about $3,106,000. Tidal Investments LLC bought a new position in shares of Payoneer Global during the 1st quarter valued at approximately $986,000. Allianz Asset Management GmbH raised its holdings in Payoneer Global by 43.5% during the 4th quarter. Allianz Asset Management GmbH now owns 906,735 shares of the company’s stock valued at $4,724,000 after buying an additional 274,942 shares during the period. Janus Henderson Group PLC lifted its position in Payoneer Global by 131.6% in the first quarter. Janus Henderson Group PLC now owns 358,940 shares of the company’s stock worth $1,744,000 after buying an additional 203,943 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Payoneer Global by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,790,400 shares of the company’s stock worth $23,283,000 after buying an additional 178,842 shares during the period. 82.22% of the stock is owned by hedge funds and other institutional investors.

Payoneer Global Price Performance

The stock’s 50-day simple moving average is $5.59 and its two-hundred day simple moving average is $5.27. The firm has a market cap of $2.58 billion, a P/E ratio of 23.77 and a beta of 0.82. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.09 and a quick ratio of 1.09.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. The firm had revenue of $239.50 million during the quarter, compared to the consensus estimate of $223.12 million. Payoneer Global had a net margin of 13.19% and a return on equity of 17.56%. The company’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 earnings per share. Equities research analysts forecast that Payoneer Global Inc. will post 0.23 earnings per share for the current fiscal 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.