Deutsche Bank Aktiengesellschaft Initiates Coverage on Payoneer Global (NASDAQ:PAYO)

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Payoneer Global (NASDAQ:PAYO - Free Report) in a research note released on Thursday, Marketbeat.com reports. The brokerage issued a buy rating and a $8.00 price target on the stock.

Several other equities analysts also recently issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of Payoneer Global from $11.00 to $9.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Citigroup reiterated a "buy" rating and issued a $10.00 target price (down previously from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. Jefferies Financial Group raised their target price on shares of Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Keefe, Bruyette & Woods raised Payoneer Global from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $7.00 to $9.00 in a report on Tuesday, May 13th. Finally, Needham & Company LLC lowered their price target on shares of Payoneer Global from $14.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $9.81.

Payoneer Global Stock Down 1.3%

PAYO traded down $0.09 during mid-day trading on Thursday, reaching $6.81. 2,320,334 shares of the company traded hands, compared to its average volume of 3,222,692. The stock has a market capitalization of $2.46 billion, a P/E ratio of 22.70 and a beta of 0.98. Payoneer Global has a 52-week low of $5.03 and a 52-week high of $11.29. The company's fifty day moving average price is $6.85 and its 200-day moving average price is $7.89.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). Payoneer Global had a net margin of 11.32% and a return on equity of 15.70%. The firm had revenue of $246.62 million for the quarter, compared to analysts' expectations of $244.52 million. During the same period in the prior year, the firm earned $0.08 EPS. Payoneer Global's revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Payoneer Global will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Payoneer Global

In other Payoneer Global news, Director Susanna Morgan sold 16,180 shares of Payoneer Global stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $6.77, for a total transaction of $109,538.60. Following the completion of the sale, the director directly owned 80,902 shares of the company's stock, valued at $547,706.54. The trade was a 16.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.58% of the company's stock.

Institutional Investors Weigh In On Payoneer Global

Several hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue grew its stake in shares of Payoneer Global by 9.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 155,131 shares of the company's stock worth $1,061,000 after purchasing an additional 12,862 shares during the period. Insight Wealth Strategies LLC grew its holdings in shares of Payoneer Global by 70.4% in the 2nd quarter. Insight Wealth Strategies LLC now owns 628,247 shares of the company's stock worth $4,329,000 after acquiring an additional 259,648 shares during the period. Voya Investment Management LLC boosted its position in Payoneer Global by 31.7% during the first quarter. Voya Investment Management LLC now owns 787,697 shares of the company's stock worth $5,758,000 after purchasing an additional 189,509 shares in the last quarter. Strs Ohio purchased a new position in shares of Payoneer Global in the first quarter valued at $812,000. Finally, Intech Investment Management LLC grew its stake in Payoneer Global by 44.0% in the 1st quarter. Intech Investment Management LLC now owns 306,202 shares of the company's stock valued at $2,238,000 after acquiring an additional 93,524 shares during the last quarter. 82.22% of the stock is owned by institutional investors and hedge funds.

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.