Payoneer Global (NASDAQ:PAYO) Rating Lowered to Market Perform at Keefe, Bruyette & Woods

Payoneer Global (NASDAQ:PAYO) was downgraded by Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a report issued on Monday, MarketBeat reports. They presently have a $12.00 price target on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 18.46% from the company’s current price.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group raised their price objective on shares of Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Benchmark raised their price objective 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. Citigroup raised their price objective on shares of Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a research note on Monday, August 12th. Northland Securities raised their price objective on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Needham & Company LLC lifted their target price 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. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $11.36.

Payoneer Global Price Performance

NASDAQ PAYO opened at $10.13 on Monday. Payoneer Global has a 12 month low of $4.22 and a 12 month high of $11.29. The firm has a market capitalization of $3.61 billion, a PE ratio of 28.94 and a beta of 0.90. The company’s 50 day simple moving average is $9.45 and its 200 day simple moving average is $7.40.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.07. The firm had revenue of $248.30 million for the quarter, compared to analyst estimates of $225.44 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 earnings per share. Sell-side analysts anticipate that Payoneer Global will post 0.32 earnings per share for the current fiscal year.

Insider Activity

In other Payoneer Global 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 value of $77,400,000.00. Following the transaction, the insider now directly owns 34,197,116 shares in the company, valued at $352,914,237.12. The trade was a 17.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Itai Perry sold 3,900 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $8.00, for a total transaction of $31,200.00. Following the completion of the transaction, the chief accounting officer now owns 228,738 shares in the company, valued at approximately $1,829,904. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,562,402 shares of company stock worth $78,043,152. Corporate insiders own 5.57% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

A number of large investors have recently modified their holdings of the stock. AXA S.A. lifted its position in shares of Payoneer Global by 1,394.5% during the second quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock worth $78,538,000 after purchasing an additional 13,227,884 shares in the last quarter. Millennium Management LLC raised its stake in shares of Payoneer Global by 17.3% during the second quarter. Millennium Management LLC now owns 6,764,016 shares of the company’s stock worth $37,473,000 after buying an additional 995,366 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Payoneer Global by 22.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,593,005 shares of the company’s stock worth $25,446,000 after buying an additional 849,680 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Payoneer Global by 17.1% during the second quarter. Victory Capital Management Inc. now owns 4,417,785 shares of the company’s stock worth $24,475,000 after buying an additional 645,887 shares during the last quarter. Finally, Azora Capital LP bought a new stake in shares of Payoneer Global during the third quarter worth approximately $31,901,000. 82.22% of the stock is currently owned by institutional investors and hedge funds.

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.