Payoneer Global (NASDAQ:PAYO) Shares Gap Up to $5.25

Payoneer Global Inc. (NASDAQ:PAYO) gapped up prior to trading on Wednesday . The stock had previously closed at $5.25, but opened at $5.90. Payoneer Global shares last traded at $6.26, with a volume of 1,423,017 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Needham & Company LLC lifted their price objective on Payoneer Global from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Benchmark reissued a “buy” rating and issued a $9.00 target price on shares of Payoneer Global in a research report on Tuesday, May 14th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $7.00.

Payoneer Global Trading Up 20.4 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $2.36 billion, a PE ratio of 20.87 and a beta of 0.82. The stock has a 50-day moving average price of $5.55 and a two-hundred day moving average price of $5.23.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Payoneer Global had a return on equity of 17.56% and a net margin of 13.19%. The firm had revenue of $228.20 million for the quarter, compared to analysts’ expectations of $211.63 million. During the same period in the previous year, the firm earned $0.02 EPS. The business’s quarterly revenue was up 18.9% on a year-over-year basis. As a group, equities analysts forecast that Payoneer Global Inc. will post 0.23 earnings per share for the current year.

Insider Activity

In other news, Director Avi Zeevi sold 23,793 shares of Payoneer Global stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $5.90, for a total transaction of $140,378.70. Following the transaction, the director now directly owns 430,055 shares of the company’s stock, valued at approximately $2,537,324.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Scott H. Galit sold 446,104 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $5.50, for a total transaction of $2,453,572.00. Following the transaction, the director now owns 2,122,421 shares of the company’s stock, valued at approximately $11,673,315.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Avi Zeevi sold 23,793 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $5.90, for a total value of $140,378.70. Following the transaction, the director now directly owns 430,055 shares in the company, valued at approximately $2,537,324.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,794,064 shares of company stock valued at $9,773,674 in the last ninety days. Corporate insiders own 5.57% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

A number of large investors have recently bought and sold shares of PAYO. Louisiana State Employees Retirement System purchased a new position in Payoneer Global during the 4th quarter valued at $679,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Payoneer Global by 23.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,796 shares of the company’s stock valued at $338,000 after acquiring an additional 12,403 shares during the period. Federated Hermes Inc. purchased a new position in Payoneer Global during the 4th quarter valued at $29,000. Handelsbanken Fonder AB boosted its holdings in Payoneer Global by 76.4% during the 4th quarter. Handelsbanken Fonder AB now owns 38,100 shares of the company’s stock valued at $199,000 after acquiring an additional 16,500 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its holdings in Payoneer Global by 33.3% during the 4th quarter. Illinois Municipal Retirement Fund now owns 157,523 shares of the company’s stock valued at $821,000 after acquiring an additional 39,322 shares during the period. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Payoneer Global Company Profile

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.