Payoneer Global (NASDAQ:PAYO) Reaches New 52-Week High – Here’s What Happened

Payoneer Global Inc. (NASDAQ:PAYO) reached a new 52-week high during trading on Monday . The stock traded as high as $11.02 and last traded at $11.02, with a volume of 8977 shares. The stock had previously closed at $10.93.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PAYO shares. Needham & Company LLC raised their target price on Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Northland Securities increased their price target on Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Citigroup raised their target price on Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a report on Monday, August 12th. Keefe, Bruyette & Woods raised their target price on Payoneer Global from $9.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group raised their target price on Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Payoneer Global currently has an average rating of “Buy” and a consensus price target of $10.79.

Payoneer Global Stock Up 0.8 %

The business’s 50-day moving average price is $8.69 and its 200 day moving average price is $6.99. The company has a market capitalization of $3.93 billion, a P/E ratio of 31.23 and a beta of 0.82.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. The business had revenue of $248.30 million during 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 business’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 EPS. Analysts anticipate that Payoneer Global Inc. will post 0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Crossover Managemen Technology sold 7,500,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $10.32, for a total value of $77,400,000.00. Following the completion of the transaction, the insider now owns 34,197,116 shares of the company’s stock, valued at approximately $352,914,237.12. This represents a 17.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Itai Perry sold 3,900 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $8.00, for a total value of $31,200.00. Following the transaction, the chief accounting officer now directly owns 228,738 shares of the company’s stock, valued at approximately $1,829,904. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,710,829 shares of company stock worth $79,086,601. 5.57% of the stock is currently owned by company insiders.

Institutional Trading of Payoneer Global

A number of institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP purchased a new position in Payoneer Global during the second quarter valued at $29,000. Blue Trust Inc. lifted its position in shares of Payoneer Global by 135.2% in the third quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock valued at $33,000 after acquiring an additional 2,552 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Payoneer Global by 438.5% in the third quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock worth $44,000 after purchasing an additional 4,736 shares during the last quarter. Sage Rhino Capital LLC bought a new stake in shares of Payoneer Global in the second quarter worth about $56,000. Finally, FSC Wealth Advisors LLC bought a new stake in shares of Payoneer Global in the third quarter worth about $68,000. Institutional investors 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.