Payoneer Global (NASDAQ:PAYO) Sets New 1-Year High After Analyst Upgrade

Payoneer Global Inc. (NASDAQ:PAYOGet 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

In other news, Director Scott H. Galit sold 150,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the completion of the transaction, the director now owns 1,809,674 shares of the company’s stock, valued at $12,794,395.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, 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 owns 228,738 shares in the company, valued at approximately $1,829,904. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Scott H. Galit sold 150,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total value of $1,060,500.00. Following the completion of the sale, the director now directly owns 1,809,674 shares of the company’s stock, valued at $12,794,395.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 5.57% of the stock is owned by company insiders.

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:PAYOGet 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

(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.

Further Reading

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