Northland Securities Cuts Payoneer Global (NASDAQ:PAYO) Price Target to $9.00

Payoneer Global (NASDAQ:PAYO – Get Rating) had its target price lowered by Northland Securities from $14.00 to $9.00 in a research report released on Friday morning, The Fly reports.

A number of other equities analysts have also weighed in on the stock. Needham & Company LLC dropped their target price on shares of Payoneer Global from $13.00 to $7.00 and set a buy rating for the company in a research report on Friday, March 4th. Citigroup increased their price objective on shares of Payoneer Global from $6.50 to $7.50 in a research report on Friday. Finally, Zacks Investment Research upgraded shares of Payoneer Global from a strong sell rating to a hold rating in a research report on Thursday, May 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Payoneer Global currently has an average rating of Buy and a consensus price target of $10.00.

Shares of NASDAQ:PAYO traded up $1.13 during midday trading on Friday, reaching $4.73. 12,005,790 shares of the company were exchanged, compared to its average volume of 2,116,819. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.10 and a quick ratio of 1.10. The business’s fifty day moving average is $4.39 and its two-hundred day moving average is $5.73. Payoneer Global has a one year low of $3.33 and a one year high of $11.20.

Payoneer Global (NASDAQ:PAYO – Get Rating) last issued its earnings results on Thursday, May 12th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.11. Payoneer Global had a negative net margin of 7.18% and a negative return on equity of 17.36%. The firm had revenue of $136.96 million during the quarter, compared to analyst estimates of $121.19 million. During the same quarter in the prior year, the business earned ($0.31) earnings per share. Payoneer Global’s revenue for the quarter was up 36.1% on a year-over-year basis. As a group, sell-side analysts expect that Payoneer Global will post -0.22 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. lifted its holdings in shares of Payoneer Global by 101.5% in the 3rd quarter. Advisor Group Holdings Inc. now owns 3,970 shares of the company’s stock worth $35,000 after acquiring an additional 2,000 shares during the last quarter. Assetmark Inc. bought a new stake in shares of Payoneer Global in the 3rd quarter worth about $39,000. Royal Bank of Canada bought a new stake in shares of Payoneer Global in the 2nd quarter worth about $41,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Payoneer Global by 1,622.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,976 shares of the company’s stock worth $50,000 after acquiring an additional 6,571 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Payoneer Global in the 1st quarter worth about $54,000. Institutional investors and hedge funds own 66.30% of the company’s stock.

Payoneer Global Company Profile (Get Rating)

Payoneer Global Inc operates a payment and commerce-enabling platform that facilitates marketplaces, platforms and online merchants worldwide. It delivers a suite of services that includes cross-border payments, B2B accounts payable/accounts receivable, multi-currency account, physical and virtual Mastercard cards, working capital, merchant, tax, compliance and risk, and others.

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