Cantor Fitzgerald Upgrades Payoneer Global (NASDAQ:PAYO) to Strong-Buy

Cantor Fitzgerald upgraded shares of Payoneer Global (NASDAQ:PAYO) to a strong-buy rating in a report published on Monday morning, Zacks.com reports. Cantor Fitzgerald also issued estimates for Payoneer Global’s FY2024 earnings at $0.24 EPS.

Several other research analysts also recently commented on the stock. Citigroup lifted their price target on shares of Payoneer Global from $7.00 to $8.50 and gave the stock a buy rating in a research note on Monday. Needham & Company LLC lifted their target price on shares of Payoneer Global from $8.00 to $9.00 and gave the stock a buy rating in a research report on Thursday, August 8th. The Goldman Sachs Group boosted their price target on shares of Payoneer Global from $6.50 to $8.00 and gave the stock a buy rating in a research note on Thursday, August 8th. Benchmark reaffirmed a buy rating and set a $9.00 price objective on shares of Payoneer Global in a research note on Thursday, August 8th. Finally, Keefe, Bruyette & Woods increased their target price on Payoneer Global from $7.00 to $8.00 and gave the company an outperform rating in a report on Thursday, August 8th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Payoneer Global presently has an average rating of Buy and an average target price of $8.25.

Payoneer Global Stock Performance

Payoneer Global stock opened at $7.00 on Monday. Payoneer Global has a fifty-two week low of $4.22 and a fifty-two week high of $7.20. The firm’s fifty day moving average price is $5.67 and its 200-day moving average price is $5.32. The stock has a market cap of $2.61 billion, a P/E ratio of 23.33 and a beta of 0.82. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.09 and a current ratio of 1.09.

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

Insider Buying and Selling

In other Payoneer Global news, Director Scott H. Galit sold 10,601 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $5.52, for a total transaction of $58,517.52. Following the completion of the transaction, the director now owns 2,122,421 shares of the company’s stock, valued at approximately $11,715,763.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Scott H. Galit sold 10,601 shares of Payoneer Global stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $5.52, for a total value of $58,517.52. Following the sale, the director now owns 2,122,421 shares in the company, valued at $11,715,763.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Itai Perry sold 6,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $6.00, for a total transaction of $36,000.00. Following the completion of the transaction, the chief accounting officer now owns 233,639 shares of the company’s stock, valued at $1,401,834. The disclosure for this sale can be found here. Insiders have sold 1,760,155 shares of company stock valued at $9,573,509 over the last ninety days. 5.57% of the stock is owned by insiders.

Institutional Trading of Payoneer Global

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Payoneer Global by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 28,579,172 shares of the company’s stock worth $148,897,000 after acquiring an additional 787,509 shares in the last quarter. AXA S.A. raised its holdings in Payoneer Global by 1,394.5% in the second quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock worth $78,538,000 after purchasing an additional 13,227,884 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Payoneer Global by 68.4% during the 4th quarter. Wellington Management Group LLP now owns 7,784,978 shares of the company’s stock valued at $40,014,000 after buying an additional 3,161,509 shares in the last quarter. Millennium Management LLC grew its position in shares of Payoneer Global by 17.3% in the 2nd quarter. Millennium Management LLC now owns 6,764,016 shares of the company’s stock worth $37,473,000 after buying an additional 995,366 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Payoneer Global by 6.0% in the 4th 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 in the last quarter. 82.22% of the stock is currently owned by hedge funds and other 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.