Payoneer Global (NASDAQ:PAYO) Price Target Raised to $9.00 at Needham & Company LLC

Payoneer Global (NASDAQ:PAYO) had its target price raised by investment analysts at Needham & Company LLC from $8.00 to $9.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 33.73% from the stock’s current price.

Separately, Benchmark restated a “buy” rating and set a $9.00 price objective on shares of Payoneer Global in a report on Tuesday, May 14th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $7.83.

Payoneer Global Trading Up 0.3 %

Shares of PAYO stock traded up $0.02 during mid-day trading on Thursday, hitting $6.73. 4,088,960 shares of the company’s stock were exchanged, compared to its average volume of 2,645,287. Payoneer Global has a fifty-two week low of $4.22 and a fifty-two week high of $6.84. The stock has a 50-day simple moving average of $5.59 and a two-hundred day simple moving average of $5.27. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.02. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 22.43 and a beta of 0.82.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. Payoneer Global had a return on equity of 17.56% and a net margin of 13.19%. The business had revenue of $239.50 million for the quarter, compared to analysts’ expectations of $223.12 million. During the same quarter last year, the firm earned $0.12 earnings per share. The business’s revenue was up 15.9% on a year-over-year basis. Equities analysts expect that Payoneer Global will post 0.23 EPS for the current fiscal year.

Insider Activity at Payoneer Global

In related news, Director Scott H. Galit sold 400,300 shares of Payoneer Global stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $5.34, for a total value of $2,137,602.00. Following the transaction, the director now owns 2,122,421 shares in the company, valued at $11,333,728.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Payoneer Global news, Director Avi Zeevi sold 23,793 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was 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 of the company’s stock, valued at $2,537,324.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott H. Galit sold 400,300 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $5.34, for a total value of $2,137,602.00. Following the completion of the transaction, the director now directly owns 2,122,421 shares in the company, valued at $11,333,728.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,783,948 shares of company stock worth $9,713,888. 5.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Payoneer Global by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 28,579,172 shares of the company’s stock valued at $148,897,000 after purchasing an additional 787,509 shares during the period. Wellington Management Group LLP increased its position in shares of Payoneer Global by 68.4% during the fourth quarter. Wellington Management Group LLP now owns 7,784,978 shares of the company’s stock worth $40,014,000 after acquiring an additional 3,161,509 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Payoneer Global by 6.0% during the fourth quarter. Victory Capital Management Inc. now owns 5,618,682 shares of the company’s stock worth $29,273,000 after acquiring an additional 320,108 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Payoneer Global by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,790,400 shares of the company’s stock worth $23,283,000 after acquiring an additional 178,842 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Payoneer Global by 22.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,593,005 shares of the company’s stock valued at $25,446,000 after buying an additional 849,680 shares during the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.

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.