Payoneer Global (NASDAQ:PAYO) Price Target Raised to $8.50

Payoneer Global (NASDAQ:PAYO - Get Free Report) had its price target upped by Jefferies Financial Group from $8.00 to $8.50 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Jefferies Financial Group's price target would indicate a potential upside of 24.45% from the stock's previous close.

Several other research analysts also recently issued reports on the stock. Citigroup restated a "buy" rating and set a $10.00 price objective (down previously from $13.00) on shares of Payoneer Global in a report on Thursday, May 22nd. The Goldman Sachs Group cut their price target on Payoneer Global from $11.00 to $9.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods raised Payoneer Global from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $7.00 to $9.00 in a report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft initiated coverage on Payoneer Global in a research report on Monday, February 3rd. They set a "buy" rating and a $13.00 price objective on the stock. Finally, Needham & Company LLC reduced their target price on Payoneer Global from $14.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $10.44.

Payoneer Global Price Performance

Shares of NASDAQ PAYO traded up $0.02 during trading hours on Tuesday, hitting $6.83. 1,784,013 shares of the stock were exchanged, compared to its average volume of 3,183,185. Payoneer Global has a one year low of $5.03 and a one year high of $11.29. The company's 50 day moving average is $6.82 and its 200 day moving average is $8.84. The firm has a market capitalization of $2.47 billion, a P/E ratio of 19.51, a P/E/G ratio of 2.88 and a beta of 1.03.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The business had revenue of $246.62 million during the quarter, compared to the consensus estimate of $244.52 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. The company's revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts anticipate that Payoneer Global will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Payoneer Global

Several institutional investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in shares of Payoneer Global during the first quarter worth approximately $812,000. Intech Investment Management LLC grew its position in Payoneer Global by 44.0% during the 1st quarter. Intech Investment Management LLC now owns 306,202 shares of the company's stock worth $2,238,000 after acquiring an additional 93,524 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Payoneer Global by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 757,827 shares of the company's stock valued at $5,540,000 after purchasing an additional 41,970 shares in the last quarter. United Services Automobile Association bought a new position in Payoneer Global in the 1st quarter valued at $126,000. Finally, Caxton Associates LLP bought a new position in Payoneer Global in the 1st quarter valued at $172,000. 82.22% of the stock is owned by 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.