Payoneer Global (NASDAQ:PAYO) Shares Gap Down – What’s Next?

Payoneer Global Inc. (NASDAQ:PAYO) shares gapped down before the market opened on Friday . The stock had previously closed at $7.56, but opened at $7.21. Payoneer Global shares last traded at $7.44, with a volume of 512,073 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PAYO. Northland Securities boosted their price target on Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft began coverage on Payoneer Global in a research note on Monday, February 3rd. They issued a “buy” rating and a $13.00 price objective on the stock. Citigroup upped their price objective on Payoneer Global from $14.50 to $16.50 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods lowered their price objective on Payoneer Global from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Friday, February 28th. Finally, Wolfe Research lowered Payoneer Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Payoneer Global currently has an average rating of “Moderate Buy” and a consensus target price of $13.07.

Payoneer Global Stock Performance

The firm has a market capitalization of $2.68 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 2.88 and a beta of 0.97. The stock has a 50-day moving average of $9.49 and a 200 day moving average of $9.29.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $261.74 million for the quarter, compared to the consensus estimate of $242.14 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. During the same quarter last year, the company earned $0.05 earnings per share. On average, equities analysts predict that Payoneer Global Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling

In other Payoneer Global news, insider Tsafi Goldman sold 96,350 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $10.07, for a total transaction of $970,244.50. Following the transaction, the insider now owns 741,748 shares of the company’s stock, valued at approximately $7,469,402.36. This represents a 11.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Beatrice Ordonez sold 85,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $10.40, for a total value of $884,000.00. Following the transaction, the chief financial officer now directly owns 2,305,245 shares in the company, valued at approximately $23,974,548. This represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. 5.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. California State Teachers Retirement System lifted its holdings in Payoneer Global by 2.3% during the 4th quarter. California State Teachers Retirement System now owns 284,558 shares of the company’s stock worth $2,857,000 after buying an additional 6,350 shares in the last quarter. Forum Financial Management LP acquired a new position in Payoneer Global during the 4th quarter worth $122,000. Neo Ivy Capital Management acquired a new position in Payoneer Global during the 4th quarter worth $1,543,000. Castleark Management LLC acquired a new position in shares of Payoneer Global in the 4th quarter valued at $6,067,000. Finally, PharVision Advisers LLC acquired a new position in shares of Payoneer Global in the 4th quarter valued at $125,000. 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.