Brokerages Set Payoneer Global Inc. (NASDAQ:PAYO) Target Price at $7.40

Shares of Payoneer Global Inc. (NASDAQ:PAYO) have been given an average rating of “Hold” by the nine ratings firms that are presently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $7.40.

A number of analysts have recently commented on PAYO shares. William Blair lowered Payoneer Global from an “outperform” rating to a “hold” rating in a research note on Monday, June 15th. Northland Securities set a $7.40 price objective on Payoneer Global in a research note on Monday, June 15th. Keefe, Bruyette & Woods lowered shares of Payoneer Global from a “moderate buy” rating to a “hold” rating in a report on Monday, June 15th. Needham & Company LLC downgraded shares of Payoneer Global from a “buy” rating to a “hold” rating in a research report on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $7.40 target price on shares of Payoneer Global in a report on Tuesday, June 16th.

Payoneer Global Stock Performance

NASDAQ PAYO opened at $7.09 on Tuesday. The firm’s fifty day moving average price is $6.14 and its two-hundred day moving average price is $5.54. The stock has a market cap of $2.37 billion, a PE ratio of 35.45, a PEG ratio of 0.76 and a beta of 0.95. Payoneer Global has a fifty-two week low of $4.08 and a fifty-two week high of $7.66.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. Payoneer Global had a return on equity of 11.10% and a net margin of 6.76%.The company had revenue of $261.60 million for the quarter, compared to the consensus estimate of $255.12 million. During the same quarter last year, the business posted $0.05 EPS. Payoneer Global’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts predict that Payoneer Global will post 0.27 earnings per share for the current fiscal year.

Insider Activity at Payoneer Global

In other news, CFO Beatrice Ordonez sold 25,000 shares of Payoneer Global stock in a transaction on Monday, June 15th. The shares were sold at an average price of $7.01, for a total transaction of $175,250.00. Following the transaction, the chief financial officer owned 2,887,266 shares in the company, valued at approximately $20,239,734.66. The trade was a 0.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.06% of the company’s stock.

Institutional Trading of Payoneer Global

A number of institutional investors and hedge funds have recently bought and sold shares of PAYO. Osaic Holdings Inc. lifted its holdings in Payoneer Global by 246.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock worth $33,000 after buying an additional 3,298 shares during the period. GAMMA Investing LLC increased its stake in shares of Payoneer Global by 73.8% in the second quarter. GAMMA Investing LLC now owns 5,777 shares of the company’s stock valued at $41,000 after buying an additional 2,453 shares during the period. Leonteq Securities AG increased its stake in shares of Payoneer Global by 72.0% in the first quarter. Leonteq Securities AG now owns 6,496 shares of the company’s stock valued at $31,000 after buying an additional 2,720 shares during the period. CWM LLC raised its position in shares of Payoneer Global by 178.6% during the fourth quarter. CWM LLC now owns 9,384 shares of the company’s stock worth $53,000 after acquiring an additional 6,016 shares during the last quarter. Finally, Resonant Capital Advisors LLC bought a new position in shares of Payoneer Global during the first quarter worth about $49,000. 82.22% of the stock is currently owned by institutional investors and hedge funds.

Payoneer Global Company Profile

Payoneer Global (NASDAQ: PAYO) operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company’s core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.