Payoneer Global (NASDAQ:PAYO) Shares Down 2.1%

Payoneer Global Inc. (NASDAQ:PAYO) shares fell 2.1% during mid-day trading on Friday . The company traded as low as $7.29 and last traded at $7.32. 219,548 shares were traded during trading, a decline of 92% from the average session volume of 2,665,971 shares. The stock had previously closed at $7.48.

Analyst Ratings Changes

A number of research firms have weighed in on PAYO. Benchmark reaffirmed a “buy” rating and set a $9.00 target price on shares of Payoneer Global in a report on Thursday, August 8th. Needham & Company LLC increased their target price on shares of Payoneer Global from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Citigroup boosted 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. Northland Securities increased 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. Finally, Keefe, Bruyette & Woods upped their target price on Payoneer Global from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Six equities 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.com, Payoneer Global has an average rating of “Buy” and a consensus target price of $8.50.

Payoneer Global Trading Down 1.3 %

The stock has a market capitalization of $2.82 billion, a PE ratio of 24.60 and a beta of 0.85. The business has a fifty day moving average price of $6.36 and a 200-day moving average price of $5.62.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.09 EPS 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 analysts’ expectations of $223.12 million. Payoneer Global had a net margin of 11.25% and a return on equity of 15.28%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the business earned $0.12 earnings per share. On average, equities analysts anticipate that Payoneer Global Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Payoneer Global

In other news, Director Scott H. Galit sold 390,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $5.44, for a total value of $2,121,600.00. Following the completion of the sale, the director now owns 2,122,421 shares of the company’s stock, valued at approximately $11,545,970.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Scott H. Galit sold 390,000 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $5.44, for a total transaction of $2,121,600.00. Following the completion of the sale, the director now directly owns 2,122,421 shares in the company, valued at $11,545,970.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Scott H. Galit sold 352,165 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $5.43, for a total value of $1,912,255.95. Following the transaction, the director now owns 2,122,421 shares in the company, valued at approximately $11,524,746.03. The disclosure for this sale can be found here. Insiders sold a total of 1,890,082 shares of company stock worth $10,516,245 over the last three months. Company insiders own 5.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PAYO. Quarry LP bought a new stake in shares of Payoneer Global during the 2nd quarter valued at about $29,000. SageView Advisory Group LLC purchased a new position in shares of Payoneer Global during the 1st quarter worth approximately $39,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Payoneer Global by 27.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock worth $46,000 after acquiring an additional 2,074 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Payoneer Global during the fourth quarter valued at approximately $56,000. Finally, Sage Rhino Capital LLC purchased a new stake in Payoneer Global in the second quarter worth $56,000. 82.22% of the stock is 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.