Brokerages Set Payoneer Global Inc. (NASDAQ:PAYO) PT at $11.21

Shares of Payoneer Global Inc. (NASDAQ:PAYO) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $11.86.

A number of equities research analysts recently issued reports on PAYO shares. Needham & Company LLC lifted their price target on shares of Payoneer Global from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Benchmark lifted their target price on shares of Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods lowered their target price on shares of Payoneer Global from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note on Monday, January 6th. Citigroup lifted their target price on shares of Payoneer Global from $8.50 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Wolfe Research cut shares of Payoneer Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th.

Payoneer Global Stock Performance

Payoneer Global stock opened at $10.73 on Friday. The company’s fifty day moving average price is $10.41 and its 200 day moving average price is $8.20. Payoneer Global has a 1 year low of $4.22 and a 1 year high of $11.29. The stock has a market capitalization of $3.82 billion, a P/E ratio of 30.64 and a beta of 0.92.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The firm had revenue of $248.30 million for the quarter, compared to analysts’ expectations of $225.44 million. During the same quarter last year, the company earned $0.05 EPS. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. Sell-side analysts predict that Payoneer Global will post 0.35 EPS for the current year.

Insider Activity

In other news, insider Crossover Managemen Technology sold 7,500,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $10.32, for a total transaction of $77,400,000.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Itai Perry sold 52,829 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.64, for a total transaction of $562,100.56. Following the completion of the transaction, the chief accounting officer now directly owns 201,882 shares in the company, valued at $2,148,024.48. The trade was a 20.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,914,625 shares of company stock valued at $81,614,514. 5.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. AXA S.A. lifted its position 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 valued at $78,538,000 after buying an additional 13,227,884 shares during the last quarter. Millennium Management LLC lifted its position in Payoneer Global by 17.3% in the second quarter. Millennium Management LLC now owns 6,764,016 shares of the company’s stock valued at $37,473,000 after buying an additional 995,366 shares during the last quarter. Dimensional Fund Advisors LP lifted its position 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. Victory Capital Management Inc. lifted its position in Payoneer Global by 17.1% in the second quarter. Victory Capital Management Inc. now owns 4,417,785 shares of the company’s stock valued at $24,475,000 after buying an additional 645,887 shares during the last quarter. Finally, Azora Capital LP acquired a new position in Payoneer Global in the third quarter valued at about $31,901,000. Institutional investors and hedge funds 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.