Payoneer Global Inc. (NASDAQ:PAYO) Given Average Recommendation of “Buy” by Brokerages

Shares of Payoneer Global Inc. (NASDAQ:PAYO) have received an average recommendation of “Buy” from the six analysts that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $8.25.

PAYO has been the subject of a number of recent research reports. Citigroup increased their price objective on shares of Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a report on Monday, August 12th. Cantor Fitzgerald raised Payoneer Global to a “strong-buy” rating in a research note on Monday, August 12th. Needham & Company LLC upped their target price on Payoneer Global from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Benchmark reissued a “buy” rating and set a $9.00 price target on shares of Payoneer Global in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group raised their price objective on shares of Payoneer Global from $6.50 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th.

Insider Buying and Selling

In other news, Director Scott H. Galit sold 10,601 shares of the business’s stock in a transaction that occurred 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 directly owns 2,122,421 shares of the company’s stock, valued at approximately $11,715,763.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Scott H. Galit sold 10,601 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was 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 approximately $11,715,763.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Scott H. Galit sold 390,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $5.44, for a total value of $2,121,600.00. Following the transaction, the director now owns 2,122,421 shares of the company’s stock, valued at $11,545,970.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,890,082 shares of company stock valued at $10,516,245. 5.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new position in Payoneer Global in the second quarter valued at $29,000. SageView Advisory Group LLC purchased a new position in shares of Payoneer Global in the 1st quarter valued at about $39,000. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Payoneer Global by 27.8% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock worth $46,000 after buying an additional 2,074 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of Payoneer Global during the fourth quarter worth approximately $56,000. Finally, Sage Rhino Capital LLC acquired a new stake in Payoneer Global in the second quarter valued at approximately $56,000. Institutional investors and hedge funds own 82.22% of the company’s stock.

Payoneer Global Stock Performance

Shares of PAYO opened at $7.02 on Friday. The stock has a 50 day moving average price of $6.18 and a 200 day moving average price of $5.56. Payoneer Global has a one year low of $4.22 and a one year high of $7.57. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 23.40 and a beta of 0.85.

Payoneer Global (NASDAQ:PAYO) last released its earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $239.50 million during the quarter, compared to analyst estimates of $223.12 million. Payoneer Global had a net margin of 11.25% and a return on equity of 15.28%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.12 earnings per share. On average, analysts predict that Payoneer Global will post 0.25 earnings per share for the current year.

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.