Payoneer Global (NASDAQ:PAYO) Price Target Raised to $10.00 at Benchmark

Payoneer Global (NASDAQ:PAYO) had its price target hoisted by stock analysts at Benchmark from $9.00 to $10.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price target points to a potential upside of 18.62% from the stock’s previous close.

Other research analysts have also issued reports about the company. Needham & Company LLC raised their price objective on Payoneer Global from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Northland Securities raised their target price on Payoneer Global from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Keefe, Bruyette & Woods upped their price target on Payoneer Global from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Cantor Fitzgerald raised shares of Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. Finally, The Goldman Sachs Group boosted their target price on shares of Payoneer Global from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $8.93.

Payoneer Global Stock Performance

Shares of NASDAQ:PAYO opened at $8.43 on Tuesday. The stock has a 50-day simple moving average of $7.49 and a 200-day simple moving average of $6.22. The stock has a market capitalization of $3.15 billion, a P/E ratio of 28.10 and a beta of 0.85. Payoneer Global has a 1 year low of $4.22 and a 1 year high of $8.56.

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

Insider Buying and Selling at Payoneer Global

In other news, Director Scott H. Galit sold 150,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the completion of the transaction, the director now directly owns 1,809,674 shares in the company, valued at approximately $12,794,395.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Itai Perry sold 4,100 shares of Payoneer Global stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $8.00, for a total value of $32,800.00. Following the completion of the transaction, the chief accounting officer now directly owns 228,738 shares in the company, valued at approximately $1,829,904. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott H. Galit sold 150,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 1,809,674 shares of the company’s stock, valued at approximately $12,794,395.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 158,000 shares of company stock valued at $1,124,500 in the last three months. Corporate insiders own 5.57% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PAYO. Vanguard Group Inc. lifted its stake in Payoneer Global by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 28,579,172 shares of the company’s stock worth $148,897,000 after purchasing an additional 787,509 shares during the last quarter. AXA S.A. lifted its position in shares of 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 buying an additional 13,227,884 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Payoneer Global by 17.3% in the 2nd 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 period. Price T Rowe Associates Inc. MD boosted its holdings 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 valued at $23,283,000 after buying an additional 178,842 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Payoneer Global by 22.7% during the 2nd 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. Institutional investors and hedge funds own 82.22% of the company’s stock.

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.