Payoneer Global (NASDAQ:PAYO) Reaches New 1-Year High – Should You Buy?

Payoneer Global Inc. (NASDAQ:PAYO)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $7.80 and last traded at $7.76, with a volume of 143108 shares changing hands. The stock had previously closed at $7.67.

Analysts Set New Price Targets

Several research firms recently commented on PAYO. Benchmark reaffirmed a “buy” rating and set a $9.00 target price on shares of Payoneer Global in a report on Thursday, August 8th. Cantor Fitzgerald upgraded Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Citigroup increased their target price on Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a report on Monday, August 12th. Needham & Company LLC lifted their price target on Payoneer Global from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on Payoneer Global from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $8.50.

Payoneer Global Trading Up 0.7 %

The business has a fifty day moving average of $6.91 and a 200-day moving average of $5.90. The company has a market cap of $2.88 billion, a PE ratio of 25.57 and a beta of 0.85.

Payoneer Global (NASDAQ:PAYO) last posted its earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. The firm had revenue of $239.50 million for the quarter, compared to analysts’ expectations of $223.12 million. During the same period in the previous year, the firm earned $0.12 earnings per share. The business’s revenue was up 15.9% compared to the same quarter last year. As a group, research analysts predict that Payoneer Global Inc. will post 0.25 EPS for the current year.

Insiders Place Their Bets

In other Payoneer Global news, Director Scott H. Galit sold 446,104 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $5.50, for a total value of $2,453,572.00. Following the completion of the sale, the director now directly owns 2,122,421 shares in the company, valued at $11,673,315.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Scott H. Galit sold 446,104 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $5.50, for a total value of $2,453,572.00. Following the sale, the director now directly owns 2,122,421 shares of the company’s stock, valued at $11,673,315.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Scott H. Galit sold 400,300 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $5.34, for a total value of $2,137,602.00. Following the transaction, the director now directly owns 2,122,421 shares of the company’s stock, valued at approximately $11,333,728.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,007,005 shares of company stock worth $5,710,192. 5.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Payoneer Global

A number of hedge funds and other institutional investors have recently bought and sold shares of PAYO. Vanguard Group Inc. grew its stake in shares of Payoneer Global by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 28,579,172 shares of the company’s stock worth $148,897,000 after acquiring an additional 787,509 shares during the last quarter. AXA S.A. grew its position in Payoneer Global by 1,394.5% during the 2nd quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock valued at $78,538,000 after purchasing an additional 13,227,884 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Payoneer Global by 68.4% in the 4th quarter. Wellington Management Group LLP now owns 7,784,978 shares of the company’s stock worth $40,014,000 after purchasing an additional 3,161,509 shares in the last quarter. Millennium Management LLC raised its stake in shares of Payoneer Global by 17.3% in the second quarter. Millennium Management LLC now owns 6,764,016 shares of the company’s stock worth $37,473,000 after purchasing an additional 995,366 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Payoneer Global by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,790,400 shares of the company’s stock valued at $23,283,000 after purchasing an additional 178,842 shares in the last quarter. Hedge funds and other 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.