Keefe, Bruyette & Woods Cuts Payoneer Global (NASDAQ:PAYO) Price Target to $11.00

Payoneer Global (NASDAQ:PAYO) had its price target lowered by Keefe, Bruyette & Woods from $12.00 to $11.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 7.74% from the stock’s current price.

A number of other analysts have also recently commented on PAYO. Benchmark upped their price target on shares of Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group boosted their price objective on Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Northland Securities raised their target price on 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 upped their price target on Payoneer Global from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $11.21.

Payoneer Global Trading Down 2.6 %

Shares of NASDAQ:PAYO traded down $0.27 during mid-day trading on Monday, reaching $10.21. The company had a trading volume of 581,023 shares, compared to its average volume of 1,358,091. The company’s 50-day moving average price is $10.22 and its 200-day moving average price is $7.96. Payoneer Global has a one year low of $4.22 and a one year high of $11.29. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 29.17 and a beta of 0.90.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The company had revenue of $248.30 million during the quarter, compared to the consensus estimate of $225.44 million. During the same quarter in the prior year, the company earned $0.05 EPS. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. On average, research analysts anticipate that Payoneer Global will post 0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Itai Perry sold 4,100 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $8.00, for a total value of $32,800.00. Following the transaction, the chief accounting officer now owns 228,738 shares of the company’s stock, valued at $1,829,904. This represents a 1.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tsafi Goldman sold 263,873 shares of Payoneer Global stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $10.10, for a total transaction of $2,665,117.30. Following the transaction, the insider now directly owns 741,748 shares in the company, valued at $7,491,654.80. This trade represents a 26.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,922,625 shares of company stock worth $81,678,514 in the last ninety days. 5.57% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Payoneer Global

Several hedge funds have recently bought and sold shares of PAYO. Bank of New York Mellon Corp lifted its holdings in shares of Payoneer Global by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 1,971,622 shares of the company’s stock valued at $10,923,000 after purchasing an additional 33,063 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Payoneer Global by 4.3% during the 2nd quarter. Van ECK Associates Corp now owns 82,903 shares of the company’s stock valued at $459,000 after acquiring an additional 3,444 shares during the period. CIBC Asset Management Inc grew its holdings in Payoneer Global by 17.3% during the second quarter. CIBC Asset Management Inc now owns 21,096 shares of the company’s stock valued at $117,000 after purchasing an additional 3,117 shares during the period. Rhumbline Advisers increased its position in Payoneer Global by 2.7% in the second quarter. Rhumbline Advisers now owns 768,335 shares of the company’s stock worth $4,257,000 after buying an additional 20,297 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Payoneer Global by 17.1% in 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 period. Institutional investors own 82.22% of the company’s stock.

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.