Payoneer Global (NASDAQ:PAYO) Reaches New 52-Week High – Should You Buy?

Payoneer Global Inc. (NASDAQ:PAYO)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $10.90 and last traded at $10.83, with a volume of 2519021 shares traded. The stock had previously closed at $10.64.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PAYO. Northland Securities boosted their price objective on Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Needham & Company LLC upped their price objective on shares of Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods upped their target price on shares of Payoneer Global from $9.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Cantor Fitzgerald upgraded shares of Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Finally, Benchmark upped their price objective on shares of Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Payoneer Global has an average rating of “Buy” and an average price target of $10.79.

Payoneer Global Stock Performance

The stock has a market capitalization of $3.84 billion, a PE ratio of 30.80 and a beta of 0.82. The business’s 50-day moving average price is $8.62 and its 200 day moving average price is $6.93.

Payoneer Global (NASDAQ:PAYO) last posted its earnings results on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.04 by $0.07. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The business had revenue of $248.30 million during the quarter, compared to analysts’ expectations of $225.44 million. During the same period in the previous year, the business earned $0.05 earnings per share. The firm’s revenue was up 19.4% on a year-over-year basis. As a group, equities research analysts predict that Payoneer Global Inc. will post 0.32 earnings per share for the current year.

Insider Activity at Payoneer Global

In other Payoneer Global news, Director Scott H. Galit sold 150,000 shares of Payoneer Global stock in a transaction that occurred 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 transaction, the director now directly owns 1,809,674 shares of the company’s stock, valued at approximately $12,794,395.18. This trade represents a 7.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $10.32, for a total transaction of $77,400,000.00. Following the completion of the sale, the insider now owns 34,197,116 shares of the company’s stock, valued at approximately $352,914,237.12. The trade was a 17.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,710,829 shares of company stock valued at $79,086,601 over the last three months. 5.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Payoneer Global

Institutional investors have recently bought and sold shares of the stock. AXA S.A. grew its holdings in Payoneer Global by 1,394.5% in the 2nd 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 last quarter. Millennium Management LLC boosted its position in Payoneer Global by 17.3% during the 2nd quarter. Millennium Management LLC now owns 6,764,016 shares of the company’s stock valued at $37,473,000 after acquiring an additional 995,366 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Payoneer Global by 3.9% in the 1st 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Payoneer Global by 22.7% during the second 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 in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Payoneer Global by 17.1% in the 2nd 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 during the period. 82.22% of the stock is currently 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.