Payoneer Global (NASDAQ:PAYO) Hits New 1-Year High at $7.22

Payoneer Global Inc. (NASDAQ:PAYO) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $7.22 and last traded at $7.20, with a volume of 907625 shares. The stock had previously closed at $7.13.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. The Goldman Sachs Group increased their price objective on Payoneer Global from $6.50 to $8.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Cantor Fitzgerald upgraded shares of Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Benchmark reiterated a “buy” rating and set a $9.00 price target on shares of Payoneer Global in a research note on Thursday, August 8th. Citigroup raised their price objective on Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Needham & Company LLC lifted their price objective on shares of Payoneer Global from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $8.25.

Payoneer Global Price Performance

The company has a market cap of $2.70 billion, a PE ratio of 23.77 and a beta of 0.82. The stock has a fifty day simple moving average of $5.87 and a two-hundred day simple moving average of $5.44. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.02.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. Payoneer Global had a return on equity of 17.56% and a net margin of 13.19%. The firm had revenue of $239.50 million for the quarter, compared to analyst estimates of $223.12 million. During the same quarter in the prior year, the company posted $0.12 earnings per share. Payoneer Global’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities analysts predict that Payoneer Global Inc. will post 0.23 EPS for the current fiscal year.

Insider Buying and Selling

In other Payoneer Global news, Director Scott H. Galit sold 446,104 shares of Payoneer Global stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $5.50, for a total transaction of $2,453,572.00. Following the completion of the transaction, the director now owns 2,122,421 shares in the company, valued at $11,673,315.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Payoneer Global news, Director Scott H. Galit sold 14,073 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $5.81, for a total transaction of $81,764.13. Following the sale, the director now directly owns 2,422,421 shares of the company’s stock, valued at approximately $14,074,266.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott H. Galit sold 446,104 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $5.50, for a total transaction of $2,453,572.00. Following the completion of the transaction, the director now directly owns 2,122,421 shares of the company’s stock, valued at approximately $11,673,315.50. The disclosure for this sale can be found here. Insiders have sold 1,754,155 shares of company stock worth $9,537,509 in the last three months. Corporate insiders own 5.57% of the company’s stock.

Institutional Trading of Payoneer Global

Several hedge funds and other institutional investors have recently bought and sold shares of PAYO. Xponance Inc. boosted its holdings in shares of Payoneer Global by 12.1% during the second quarter. Xponance Inc. now owns 17,928 shares of the company’s stock worth $99,000 after purchasing an additional 1,942 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Payoneer Global by 27.8% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock valued at $46,000 after purchasing an additional 2,074 shares during the period. Yousif Capital Management LLC increased its position in Payoneer Global by 1.8% during the fourth quarter. Yousif Capital Management LLC now owns 129,060 shares of the company’s stock worth $672,000 after purchasing an additional 2,320 shares during the last quarter. Y.D. More Investments Ltd raised its stake in Payoneer Global by 11.7% during the second quarter. Y.D. More Investments Ltd now owns 22,142 shares of the company’s stock worth $122,000 after purchasing an additional 2,328 shares during the period. Finally, Texas Permanent School Fund Corp boosted its holdings in shares of Payoneer Global by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 227,988 shares of the company’s stock valued at $1,108,000 after purchasing an additional 2,958 shares during the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.

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.