Payoneer Global (NASDAQ:PAYO) Sets New 1-Year High at $7.64

Payoneer Global Inc. (NASDAQ:PAYO)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $7.64 and last traded at $7.55, with a volume of 1341231 shares. The stock had previously closed at $7.46.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Payoneer Global from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Needham & Company LLC raised their price target on shares of Payoneer Global from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. 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 note on Tuesday, September 10th. Benchmark reissued a “buy” rating and set a $9.00 target price on shares of Payoneer Global in a report on Thursday, August 8th. Finally, The Goldman Sachs Group lifted their price target on Payoneer Global from $6.50 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Payoneer Global has an average rating of “Buy” and a consensus target price of $8.50.

Payoneer Global Price Performance

The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 24.87 and a beta of 0.85. The business has a fifty day moving average of $6.44 and a 200 day moving average of $5.67.

Payoneer Global (NASDAQ:PAYO) last posted its 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 company had revenue of $239.50 million for the quarter, compared to the consensus estimate of $223.12 million. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 earnings per share. On average, equities research analysts expect that Payoneer Global Inc. will post 0.25 EPS for the current year.

Insider Buying and Selling at Payoneer Global

In other news, Director Scott H. Galit sold 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total value of $1,060,500.00. Following the transaction, the director now directly owns 1,809,674 shares in the company, valued at approximately $12,794,395.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Scott H. Galit sold 150,000 shares of Payoneer Global stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total value of $1,060,500.00. Following the completion of the sale, the director now directly owns 1,809,674 shares of the company’s stock, valued at $12,794,395.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Scott H. Galit sold 10,601 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 2,122,421 shares in the company, valued at approximately $11,715,763.92. The disclosure for this sale can be found here. Insiders have sold 1,890,082 shares of company stock valued at $10,516,245 over the last 90 days. 5.57% of the stock is owned by insiders.

Institutional Investors Weigh In On Payoneer Global

A number of hedge funds have recently added to or reduced their stakes in PAYO. Cubist Systematic Strategies LLC increased its holdings in Payoneer Global by 108.6% in the second quarter. Cubist Systematic Strategies LLC now owns 509,003 shares of the company’s stock valued at $2,820,000 after buying an additional 264,978 shares during the last quarter. Nantahala Capital Management LLC boosted its holdings in Payoneer Global by 16.2% in the second quarter. Nantahala Capital Management LLC now owns 2,115,653 shares of the company’s stock valued at $11,721,000 after purchasing an additional 294,227 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Payoneer Global by 13.4% in the second quarter. Point72 Asset Management L.P. now owns 387,864 shares of the company’s stock valued at $2,149,000 after purchasing an additional 45,768 shares during the last quarter. Quarry LP acquired a new stake in Payoneer Global during the second quarter worth approximately $29,000. Finally, Algert Global LLC lifted its position in shares of Payoneer Global by 146.4% during the 2nd quarter. Algert Global LLC now owns 232,787 shares of the company’s stock worth $1,290,000 after buying an additional 138,317 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors and hedge funds.

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.