Payoneer Global (NASDAQ:PAYO) Cut to Peer Perform at Wolfe Research

Wolfe Research cut shares of Payoneer Global (NASDAQ:PAYO) from an outperform rating to a peer perform rating in a report released on Wednesday, MarketBeat reports.

Other research analysts have also issued reports about the stock. Needham & Company LLC boosted 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. Keefe, Bruyette & Woods reduced their price objective on Payoneer Global from $12.00 to $11.00 and set a “market perform” rating for the company in a research report on Monday, January 6th. Benchmark raised their target price on Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group boosted their price target on Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Northland Securities raised their price target on Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.21.

Payoneer Global Stock Down 2.0 %

Shares of PAYO stock opened at $9.87 on Wednesday. The company has a market cap of $3.52 billion, a P/E ratio of 28.20 and a beta of 0.92. The business has a 50 day moving average of $10.38 and a two-hundred day moving average of $8.09. Payoneer Global has a 52 week low of $4.22 and a 52 week high of $11.29.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. The firm had revenue of $248.30 million during the quarter, compared to the consensus estimate of $225.44 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The firm’s revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 EPS. Analysts expect that Payoneer Global will post 0.35 EPS for the current fiscal year.

Insider Activity

In other news, insider Tsafi Goldman sold 96,350 shares of the 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 completion of the sale, the insider now owns 741,748 shares in the company, valued at approximately $7,469,402.36. This represents a 11.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Itai Perry sold 4,100 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $8.00, for a total value of $32,800.00. Following the sale, the chief accounting officer now directly owns 228,738 shares of the company’s stock, valued at approximately $1,829,904. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,918,725 shares of company stock worth $81,647,314 over the last 90 days. 5.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Payoneer Global

Several hedge funds have recently modified their holdings of PAYO. Quarry LP acquired a new stake in Payoneer Global during the 2nd quarter worth about $29,000. Blue Trust Inc. increased its position in shares of Payoneer Global by 135.2% in the third quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock worth $33,000 after acquiring an additional 2,552 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Payoneer Global by 438.5% during the third quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock valued at $44,000 after acquiring an additional 4,736 shares during the period. FSC Wealth Advisors LLC purchased a new stake in shares of Payoneer Global in the 3rd quarter valued at approximately $68,000. Finally, Citizens Financial Group Inc. RI acquired a new position in Payoneer Global in the 2nd quarter worth approximately $94,000. 82.22% of the stock is owned by hedge funds and other institutional investors.

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.