Payoneer Global Inc. (NASDAQ:PAYO) Given Average Recommendation of “Buy” by Analysts

Shares of Payoneer Global Inc. (NASDAQ:PAYO) have received a consensus recommendation of “Buy” from the ten analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $9.81.

PAYO has been the subject of a number of analyst reports. The Goldman Sachs Group lowered their price target on Payoneer Global from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Payoneer Global in a report on Thursday, July 17th. They issued a “buy” rating and a $8.00 target price for the company. Jefferies Financial Group raised their price target on shares of Payoneer Global from $8.00 to $8.50 and gave the company a “buy” rating in a research report on Tuesday, May 27th. Keefe, Bruyette & Woods raised shares of Payoneer Global from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $7.00 to $9.00 in a research report on Tuesday, May 13th. Finally, Citigroup reiterated a “buy” rating and issued a $10.00 price objective (down previously from $13.00) on shares of Payoneer Global in a research note on Thursday, May 22nd.

Insider Buying and Selling

In other news, Director Susanna Morgan sold 16,180 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $6.77, for a total transaction of $109,538.60. Following the transaction, the director directly owned 80,902 shares in the company, valued at approximately $547,706.54. This represents a 16.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.58% of the stock is currently owned by corporate insiders.

Institutional Trading of Payoneer Global

Several institutional investors have recently added to or reduced their stakes in PAYO. Susquehanna Capital Management LLC raised its holdings in Payoneer Global by 290.3% during the 4th quarter. Susquehanna Capital Management LLC now owns 25,268,954 shares of the company’s stock valued at $253,700,000 after buying an additional 18,794,047 shares during the last quarter. Nuveen LLC purchased a new position in shares of Payoneer Global in the first quarter valued at about $28,023,000. Vanguard Group Inc. raised its stake in shares of Payoneer Global by 12.1% during the first quarter. Vanguard Group Inc. now owns 33,881,608 shares of the company’s stock valued at $247,675,000 after acquiring an additional 3,656,056 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Payoneer Global by 200.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,470,347 shares of the company’s stock worth $34,842,000 after purchasing an additional 2,313,481 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Payoneer Global by 252.8% during the fourth quarter. Deutsche Bank AG now owns 2,779,110 shares of the company’s stock worth $27,902,000 after purchasing an additional 1,991,449 shares during the period. 82.22% of the stock is currently owned by hedge funds and other institutional investors.

Payoneer Global Stock Down 1.3%

Shares of NASDAQ PAYO opened at $6.72 on Tuesday. The firm has a market cap of $2.43 billion, a PE ratio of 22.40 and a beta of 0.98. The company’s fifty day simple moving average is $6.80 and its 200 day simple moving average is $7.75. Payoneer Global has a 12-month low of $5.03 and a 12-month high of $11.29.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Payoneer Global had a return on equity of 15.70% and a net margin of 11.32%. The firm had revenue of $246.62 million for the quarter, compared to analyst estimates of $244.52 million. During the same period last year, the company posted $0.08 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities analysts predict that Payoneer Global will post 0.34 earnings per share for the current 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.