Payoneer Global Inc. (NASDAQ:PAYO) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Payoneer Global Inc. (NASDAQ:PAYO) have earned a consensus recommendation of “Buy” from the seven research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $11.36.

Several analysts have weighed in on PAYO shares. Keefe, Bruyette & Woods cut Payoneer Global from an “outperform” rating to a “market perform” rating and set a $12.00 price objective on the stock. in a research report on Monday, December 9th. Needham & Company LLC boosted their target price on shares of Payoneer Global from $10.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Benchmark upped their price objective on shares of Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Northland Securities lifted their target price on shares of Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, The Goldman Sachs Group upped their price target on Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th.

Insider Buying and Selling

In related news, insider Tsafi Goldman sold 263,873 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $10.10, for a total value of $2,665,117.30. Following the sale, the insider now owns 741,748 shares in the company, valued at approximately $7,491,654.80. This trade represents a 26.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Itai Perry sold 4,100 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $8.00, for a total transaction of $32,800.00. Following the sale, the chief accounting officer now owns 228,738 shares of the company’s stock, valued at approximately $1,829,904. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,826,275 shares of company stock worth $80,708,269 in the last three months. Insiders own 5.57% of the company’s stock.

Institutional Trading of Payoneer Global

Several large investors have recently modified their holdings of the company. Lord Abbett & CO. LLC bought a new stake in Payoneer Global during the third quarter valued at approximately $6,064,000. Tidal Investments LLC raised its holdings in Payoneer Global by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 195,407 shares of the company’s stock worth $1,471,000 after purchasing an additional 8,637 shares during the period. Barclays PLC lifted its position in Payoneer Global by 352.8% during the third quarter. Barclays PLC now owns 498,727 shares of the company’s stock valued at $3,755,000 after purchasing an additional 388,584 shares in the last quarter. Weiss Asset Management LP bought a new stake in Payoneer Global during the third quarter valued at about $2,339,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in Payoneer Global in the third quarter worth about $3,982,000. Institutional investors own 82.22% of the company’s stock.

Payoneer Global Stock Performance

NASDAQ PAYO opened at $10.12 on Monday. Payoneer Global has a fifty-two week low of $4.22 and a fifty-two week high of $11.29. The stock has a market cap of $3.61 billion, a P/E ratio of 28.92 and a beta of 0.90. The stock has a 50 day simple moving average of $9.85 and a two-hundred day simple moving average of $7.62.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.07. The business had revenue of $248.30 million for the quarter, compared to analysts’ expectations of $225.44 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 earnings per share. Sell-side analysts predict that Payoneer Global will post 0.35 earnings per share for the current year.

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.