Payoneer Global (NASDAQ:PAYO) Stock Rating Upgraded by Wall Street Zen

Payoneer Global (NASDAQ:PAYO) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

PAYO has been the subject of a number of other research reports. Needham & Company LLC raised their price objective on shares of Payoneer Global from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Jefferies Financial Group raised their price objective on shares of Payoneer Global from $8.00 to $8.50 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft started coverage on shares of Payoneer Global in a report on Thursday, July 17th. They set a “buy” rating and a $8.00 price objective for the company. Keefe, Bruyette & Woods upgraded shares of Payoneer Global from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $7.00 to $9.00 in a research report on Tuesday, May 13th. Finally, Citigroup reiterated a “buy” rating and set a $10.00 target price (down previously from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.06.

Payoneer Global Stock Performance

NASDAQ PAYO opened at $6.73 on Friday. Payoneer Global has a 52-week low of $5.71 and a 52-week high of $11.29. The company has a 50-day simple moving average of $6.75 and a 200 day simple moving average of $7.43. The company has a market capitalization of $2.43 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 8.80 and a beta of 0.97.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Payoneer Global had a return on equity of 13.42% and a net margin of 9.81%. The company had revenue of $260.61 million for the quarter, compared to analysts’ expectations of $253.17 million. During the same quarter last year, the business posted $0.09 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, analysts forecast that Payoneer Global will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Susanna Morgan sold 16,180 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $6.77, for a total value of $109,538.60. Following the completion of the transaction, the director directly owned 80,902 shares in the company, valued at approximately $547,706.54. This trade represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Payoneer Global

A number of large investors have recently modified their holdings of PAYO. LPL Financial LLC boosted its position in shares of Payoneer Global by 14.4% in the fourth quarter. LPL Financial LLC now owns 33,520 shares of the company’s stock valued at $337,000 after acquiring an additional 4,230 shares during the period. Wells Fargo & Company MN boosted its position in shares of Payoneer Global by 47.4% in the fourth quarter. Wells Fargo & Company MN now owns 144,336 shares of the company’s stock valued at $1,449,000 after acquiring an additional 46,420 shares during the period. Bank of Montreal Can boosted its position in shares of Payoneer Global by 8.6% in the fourth quarter. Bank of Montreal Can now owns 28,613 shares of the company’s stock valued at $287,000 after acquiring an additional 2,258 shares during the period. Invesco Ltd. boosted its position in shares of Payoneer Global by 16.6% in the fourth quarter. Invesco Ltd. now owns 991,268 shares of the company’s stock valued at $9,952,000 after acquiring an additional 141,376 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Payoneer Global by 4.6% in the fourth quarter. Legal & General Group Plc now owns 798,597 shares of the company’s stock valued at $8,018,000 after acquiring an additional 35,434 shares during the period. 82.22% of the stock is currently owned by institutional investors.

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.