Brokerages Set Payoneer Global Inc. (NASDAQ:PAYO) PT at $8.25

Payoneer Global Inc. (NASDAQ:PAYO) has received an average recommendation of “Buy” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $8.50.

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Payoneer Global from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Cantor Fitzgerald upgraded Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. 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 report on Thursday, August 8th. Benchmark reiterated a “buy” rating and issued a $9.00 price objective on shares of Payoneer Global in a research note on Thursday, August 8th. Finally, Needham & Company LLC lifted their target price 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.

Insider Activity

In other Payoneer Global news, Director Scott H. Galit sold 390,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $5.44, for a total transaction of $2,121,600.00. Following the completion of the sale, the director now owns 2,122,421 shares of the company’s stock, valued at $11,545,970.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Scott H. Galit sold 150,000 shares of Payoneer Global stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total value of $1,060,500.00. Following the transaction, the director now directly owns 1,809,674 shares in the company, valued at $12,794,395.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott H. Galit sold 390,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $5.44, for a total value of $2,121,600.00. Following the transaction, the director now directly owns 2,122,421 shares of the company’s stock, valued at approximately $11,545,970.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,890,082 shares of company stock valued at $10,516,245. Insiders own 5.57% of the company’s stock.

Institutional Trading of Payoneer Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAYO. Quarry LP bought a new position in shares of Payoneer Global during the 2nd quarter worth about $29,000. SageView Advisory Group LLC bought a new position in Payoneer Global during the first quarter valued at about $39,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Payoneer Global by 27.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock valued at $46,000 after acquiring an additional 2,074 shares in the last quarter. Sage Rhino Capital LLC acquired a new position in Payoneer Global in the 2nd quarter valued at approximately $56,000. Finally, Blueshift Asset Management LLC bought a new stake in shares of Payoneer Global in the 4th quarter worth approximately $56,000. Institutional investors and hedge funds own 82.22% of the company’s stock.

Payoneer Global Price Performance

PAYO stock opened at $7.22 on Friday. The firm has a market cap of $2.70 billion, a PE ratio of 24.07 and a beta of 0.85. Payoneer Global has a 12 month low of $4.22 and a 12 month high of $7.57. The firm has a 50 day simple moving average of $6.28 and a 200 day simple moving average of $5.60.

Payoneer Global (NASDAQ:PAYO) last announced its earnings results on Wednesday, August 7th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. The business had revenue of $239.50 million during the quarter, compared to the consensus estimate of $223.12 million. During the same period in the prior year, the business posted $0.12 earnings per share. Payoneer Global’s revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts expect that Payoneer Global will post 0.25 earnings per share for the current 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.