Brokerages Set Payoneer Global Inc. (NASDAQ:PAYO) Target Price at $7.17

Shares of Payoneer Global Inc. (NASDAQ:PAYO) have been given an average rating of “Moderate Buy” by the six ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $7.1667.

A number of analysts have issued reports on PAYO shares. Keefe, Bruyette & Woods cut their target price on Payoneer Global from $7.50 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Weiss Ratings downgraded shares of Payoneer Global from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Needham & Company LLC dropped their price target on shares of Payoneer Global from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Bank of America started coverage on shares of Payoneer Global in a research note on Wednesday, March 25th. They issued a “buy” rating and a $6.00 price target for the company. Finally, Wall Street Zen upgraded shares of Payoneer Global from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd.

Payoneer Global Price Performance

Shares of NASDAQ PAYO opened at $5.20 on Monday. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 0.55 and a beta of 1.02. Payoneer Global has a 52-week low of $4.08 and a 52-week high of $7.66. The business’s 50 day moving average is $4.93 and its two-hundred day moving average is $5.30.

Payoneer Global (NASDAQ:PAYO) last announced its earnings results on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $261.60 million for the quarter, compared to analyst estimates of $255.12 million. Payoneer Global had a return on equity of 11.10% and a net margin of 6.76%.The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 earnings per share. Analysts anticipate that Payoneer Global will post 0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Payoneer Global

Institutional investors have recently modified their holdings of the business. Osaic Holdings Inc. grew its stake in shares of Payoneer Global by 246.5% in the second quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock worth $33,000 after acquiring an additional 3,298 shares in the last quarter. Leonteq Securities AG grew its stake in shares of Payoneer Global by 72.0% in the first quarter. Leonteq Securities AG now owns 6,496 shares of the company’s stock worth $31,000 after acquiring an additional 2,720 shares in the last quarter. CWM LLC grew its stake in shares of Payoneer Global by 178.6% in the fourth quarter. CWM LLC now owns 9,384 shares of the company’s stock worth $53,000 after acquiring an additional 6,016 shares in the last quarter. Resonant Capital Advisors LLC acquired a new position in shares of Payoneer Global in the first quarter worth $49,000. Finally, Vident Advisory LLC acquired a new position in shares of Payoneer Global in the fourth quarter worth $58,000. Institutional investors and hedge funds own 82.22% of the company’s stock.

Payoneer Global Company Profile

Payoneer Global (NASDAQ: PAYO) operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company’s core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.