Payoneer Global Inc. (NASDAQ:PAYO – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $8.00 to $9.00. The Goldman Sachs Group currently has a buy rating on the stock. Payoneer Global traded as high as $8.03 and last traded at $8.03, with a volume of 1575997 shares trading hands. The stock had previously closed at $7.88.
Other equities research analysts also recently issued reports about the stock. Benchmark reaffirmed a “buy” rating and set a $9.00 target price on shares of Payoneer Global in a research note on Thursday, August 8th. Citigroup lifted 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. Needham & Company LLC boosted their target price on Payoneer Global from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Keefe, Bruyette & Woods lifted their price objective on Payoneer Global from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald raised Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $8.79.
Read Our Latest Stock Analysis on Payoneer Global
Insider Buying and Selling
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new position in shares of Payoneer Global in the 2nd quarter worth approximately $29,000. SageView Advisory Group LLC acquired a new position in Payoneer Global in the first quarter worth $39,000. GAMMA Investing LLC increased its stake in Payoneer Global by 438.5% during the third quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock valued at $44,000 after purchasing an additional 4,736 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Payoneer Global by 27.8% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock worth $46,000 after purchasing an additional 2,074 shares during the period. Finally, Sage Rhino Capital LLC acquired a new stake in shares of Payoneer Global during the second quarter worth $56,000. Hedge funds and other institutional investors own 82.22% of the company’s stock.
Payoneer Global Trading Up 1.9 %
The stock’s 50-day moving average price is $7.34 and its 200-day moving average price is $6.10. The company has a market capitalization of $3.00 billion, a P/E ratio of 26.77 and a beta of 0.85.
Payoneer Global (NASDAQ:PAYO – Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. The firm had revenue of $239.50 million for the quarter, compared to the consensus estimate of $223.12 million. Payoneer Global had a net margin of 11.25% and a return on equity of 15.28%. Payoneer Global’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $0.12 EPS. Sell-side analysts expect that Payoneer Global Inc. will post 0.25 earnings per share for the current fiscal year.
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.
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