Payoneer Global (NASDAQ:PAYO) Downgraded to Peer Perform Rating by Wolfe Research

Wolfe Research downgraded shares of Payoneer Global (NASDAQ:PAYO) from an outperform rating to a peer perform rating in a research report report published on Wednesday, MarketBeat.com reports.

A number of other brokerages have also issued reports on PAYO. Benchmark lifted their target price on shares of Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods reduced their price objective on Payoneer Global from $12.00 to $11.00 and set a “market perform” rating for the company in a research report on Monday. Needham & Company LLC upped their target price on Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group raised 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. Finally, Northland Securities boosted their price target on Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.21.

Payoneer Global Trading Down 3.0 %

NASDAQ:PAYO opened at $10.07 on Wednesday. The business’s fifty day moving average price is $10.33 and its 200 day moving average price is $8.04. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 28.77 and a beta of 0.92. Payoneer Global has a 1-year low of $4.22 and a 1-year high of $11.29.

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

Insider Transactions at Payoneer Global

In related news, insider Tsafi Goldman sold 263,873 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $10.10, for a total value of $2,665,117.30. Following the completion of the sale, the insider now directly owns 741,748 shares in the company, valued at approximately $7,491,654.80. The trade was a 26.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $10.32, for a total value of $77,400,000.00. Following the transaction, the insider now owns 34,197,116 shares in the company, valued at approximately $352,914,237.12. This trade represents a 17.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,918,725 shares of company stock worth $81,647,314. 5.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP bought a new position in shares of Payoneer Global in the second quarter worth about $29,000. Blue Trust Inc. increased its position in Payoneer Global by 135.2% in the 3rd quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock worth $33,000 after buying an additional 2,552 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Payoneer Global by 438.5% during the third quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock worth $44,000 after buying an additional 4,736 shares during the last quarter. FSC Wealth Advisors LLC acquired a new position in shares of Payoneer Global during the third quarter worth approximately $68,000. Finally, Citizens Financial Group Inc. RI bought a new stake in shares of Payoneer Global in the second quarter valued at approximately $94,000. Institutional investors and hedge funds 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.