Payoneer Global (NASDAQ:PAYO) Price Target Cut to $7.00

Payoneer Global (NASDAQ:PAYOGet Free Report) had its price objective reduced by equities researchers at Needham & Company LLC from $8.00 to $7.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 43.44% from the company’s current price.

Several other brokerages have also recently issued reports on PAYO. Cantor Fitzgerald decreased their price objective on Payoneer Global from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Friday, March 1st. The Goldman Sachs Group decreased their price objective on Payoneer Global from $7.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, January 11th. Keefe, Bruyette & Woods reduced their price target on Payoneer Global from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Citigroup reduced their price target on Payoneer Global from $7.50 to $6.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Finally, Benchmark reaffirmed a “buy” rating and issued a $7.00 price target on shares of Payoneer Global in a report on Tuesday, March 26th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $6.57.

View Our Latest Analysis on Payoneer Global

Payoneer Global Stock Down 0.2 %

Payoneer Global stock opened at $4.88 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.09 and a current ratio of 1.09. The business’s 50-day simple moving average is $4.87 and its two-hundred day simple moving average is $5.25. The company has a market cap of $1.80 billion, a PE ratio of 20.33 and a beta of 0.81. Payoneer Global has a fifty-two week low of $4.02 and a fifty-two week high of $6.48.

Payoneer Global (NASDAQ:PAYOGet Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $224.32 million for the quarter, compared to the consensus estimate of $223.65 million. Payoneer Global had a return on equity of 14.80% and a net margin of 11.23%. Equities analysts anticipate that Payoneer Global will post 0.22 EPS for the current year.

Insiders Place Their Bets

In other Payoneer Global news, Director Scott H. Galit sold 355,717 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $4.71, for a total transaction of $1,675,427.07. Following the completion of the sale, the director now directly owns 3,127,981 shares in the company, valued at approximately $14,732,790.51. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Payoneer Global news, Director Scott H. Galit sold 340,120 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $4.51, for a total transaction of $1,533,941.20. Following the completion of the sale, the director now directly owns 3,127,981 shares in the company, valued at approximately $14,107,194.31. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Scott H. Galit sold 355,717 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $4.71, for a total value of $1,675,427.07. Following the sale, the director now owns 3,127,981 shares of the company’s stock, valued at $14,732,790.51. The disclosure for this sale can be found here. In the last three months, insiders sold 796,105 shares of company stock worth $3,744,909. Corporate insiders own 5.57% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

A number of large investors have recently made changes to their positions in PAYO. Susquehanna International Group LLP grew its position in shares of Payoneer Global by 85,862.0% in the first quarter. Susquehanna International Group LLP now owns 18,819,651 shares of the company’s stock valued at $118,187,000 after purchasing an additional 18,797,758 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Payoneer Global by 191.4% in the first quarter. Vanguard Group Inc. now owns 25,792,530 shares of the company’s stock valued at $115,035,000 after purchasing an additional 16,940,356 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Payoneer Global in the third quarter valued at approximately $86,560,000. Victory Capital Management Inc. grew its position in shares of Payoneer Global by 1,272.2% in the fourth quarter. Victory Capital Management Inc. now owns 6,033,115 shares of the company’s stock valued at $33,001,000 after purchasing an additional 5,593,435 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Payoneer Global by 19,806.3% in the first quarter. Invesco Ltd. now owns 3,775,619 shares of the company’s stock valued at $16,839,000 after purchasing an additional 3,756,652 shares in the last quarter. 82.22% of the stock is currently owned by hedge funds and other institutional investors.

Payoneer Global Company Profile

(Get Free Report)

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.

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