Payoneer Global (NASDAQ:PAYO) Hits New 12-Month High After Analyst Upgrade

Shares of Payoneer Global Inc. (NASDAQ:PAYO) hit a new 52-week high during mid-day trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $8.00 to $9.00. The Goldman Sachs Group currently has a buy rating on the stock. Payoneer Global traded as high as $8.03 and last traded at $8.03, with a volume of 1575997 shares. The stock had previously closed at $7.88.

Several other equities research analysts have also weighed in on the stock. Citigroup upped their target price on shares of Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, August 12th. Cantor Fitzgerald upgraded shares of Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods increased their price target on shares of Payoneer Global from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Benchmark reiterated a “buy” rating and issued a $9.00 price target on shares of Payoneer Global in a research report on Thursday, August 8th. Finally, Northland Securities increased their price target on shares of Payoneer Global from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $8.79.

Insider Activity

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 value of $1,060,500.00. Following the completion of the sale, the director now 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Itai Perry sold 3,900 shares of Payoneer Global stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $8.00, for a total transaction of $31,200.00. Following the completion of the sale, the chief accounting officer now owns 228,738 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott H. Galit sold 150,000 shares of Payoneer Global stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total value of $1,060,500.00. Following the sale, the director now directly owns 1,809,674 shares of the company’s stock, valued at $12,794,395.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 158,000 shares of company stock valued at $1,124,500. 5.57% of the stock is owned by insiders.

Institutional Investors Weigh In On Payoneer Global

Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Payoneer Global by 68.4% in the fourth 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 during the period. Vanguard Group Inc. lifted 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 period. Principal Financial Group Inc. lifted its stake in shares of Payoneer Global by 4.2% in the first quarter. Principal Financial Group Inc. now owns 1,579,996 shares of the company’s stock worth $7,679,000 after acquiring an additional 64,126 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Payoneer Global by 27.8% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock worth $46,000 after acquiring an additional 2,074 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Payoneer Global by 6.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 563,060 shares of the company’s stock valued at $2,736,000 after buying an additional 33,491 shares during the period. Institutional investors and hedge funds own 82.22% of the company’s stock.

Payoneer Global Stock Up 0.9 %

The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 27.00 and a beta of 0.85. The company has a 50 day simple moving average of $7.37 and a 200-day simple moving average of $6.11.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.09 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 during the quarter, compared to the consensus estimate of $223.12 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Payoneer Global Inc. will post 0.25 earnings per share for the current fiscal year.

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.