Payoneer Global (NASDAQ:PAYO) Given New $14.00 Price Target at Needham & Company LLC

Payoneer Global (NASDAQ:PAYO) had its price target raised by Needham & Company LLC from $10.00 to $14.00 in a report released on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on PAYO. Cantor Fitzgerald raised shares of Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. The Goldman Sachs Group boosted their price target on Payoneer Global from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Benchmark upped their price objective on Payoneer Global from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods lifted their target price on Payoneer Global from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Citigroup increased their price target on shares of Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a research report on Monday, August 12th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $10.79.

Payoneer Global Price Performance

Shares of NASDAQ:PAYO traded up $0.13 during trading on Wednesday, reaching $10.81. 5,621,316 shares of the company were exchanged, compared to its average volume of 3,185,800. The firm has a market capitalization of $4.13 billion, a PE ratio of 30.89 and a beta of 0.82. The business’s fifty day simple moving average is $8.01 and its 200-day simple moving average is $6.59. Payoneer Global has a 12-month low of $4.22 and a 12-month high of $10.90.

Payoneer Global (NASDAQ:PAYO) last issued its earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. The business had revenue of $248.30 million during the quarter, compared to analysts’ expectations of $225.44 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 EPS. On average, sell-side analysts anticipate that Payoneer Global will post 0.29 EPS for the current fiscal year.

Insider Activity at Payoneer Global

In other Payoneer Global news, CAO Itai Perry sold 3,900 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $8.00, for a total transaction of $31,200.00. Following the transaction, the chief accounting officer now owns 228,738 shares in the company, valued at approximately $1,829,904. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Scott H. Galit sold 150,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the completion of the transaction, the director now owns 1,809,674 shares of the company’s stock, valued at $12,794,395.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Itai Perry sold 3,900 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $8.00, for a total transaction of $31,200.00. Following the completion of the sale, the chief accounting officer now directly owns 228,738 shares in the company, valued at approximately $1,829,904. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 158,000 shares of company stock valued at $1,124,500 in the last three months. 5.57% of the stock is owned by insiders.

Hedge Funds Weigh In On Payoneer Global

A number of institutional investors have recently modified their holdings of PAYO. AXA S.A. grew its holdings in Payoneer Global by 1,394.5% during the second quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock worth $78,538,000 after acquiring an additional 13,227,884 shares during the period. Millennium Management LLC grew its stake in shares of Payoneer Global by 17.3% during the 2nd quarter. Millennium Management LLC now owns 6,764,016 shares of the company’s stock worth $37,473,000 after purchasing an additional 995,366 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Payoneer Global by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,790,400 shares of the company’s stock valued at $23,283,000 after purchasing an additional 178,842 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Payoneer Global by 22.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,593,005 shares of the company’s stock valued at $25,446,000 after purchasing an additional 849,680 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Payoneer Global by 17.1% during the second quarter. Victory Capital Management Inc. now owns 4,417,785 shares of the company’s stock worth $24,475,000 after buying an additional 645,887 shares in the last quarter. 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.