Payoneer Global (NASDAQ:PAYO) PT Raised to $8.00

Payoneer Global (NASDAQ:PAYO - Free Report) had its target price raised by Needham & Company LLC from $7.00 to $8.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently commented on the stock. The Goldman Sachs Group dropped their price target on shares of Payoneer Global from $7.00 to $6.00 and set a buy rating on the stock in a research note on Thursday, January 11th. Benchmark restated a buy rating and set a $7.00 price target on shares of Payoneer Global in a research note on Tuesday, March 26th. Cantor Fitzgerald dropped their price target on shares of Payoneer Global from $8.00 to $7.00 and set an overweight rating on the stock in a research note on Friday, March 1st. Keefe, Bruyette & Woods dropped their price target on shares of Payoneer Global from $7.00 to $6.00 and set an outperform rating on the stock in a research note on Thursday, February 29th. Finally, Citigroup dropped their price target on shares of Payoneer Global from $7.50 to $6.00 and set a buy rating on the stock in a research note on Thursday, March 21st. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Payoneer Global presently has a consensus rating of Buy and an average target price of $6.71.

Payoneer Global Stock Down 0.2 %

Shares of NASDAQ:PAYO traded down $0.01 during midday trading on Thursday, hitting $5.87. 2,647,337 shares of the company's stock were exchanged, compared to its average volume of 2,555,286. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $2.16 billion, a PE ratio of 24.50 and a beta of 0.77. Payoneer Global has a 12 month low of $4.02 and a 12 month high of $6.48. The stock has a 50 day moving average price of $4.82 and a 200-day moving average price of $5.07.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its earnings results on Wednesday, May 8th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.03. The firm had revenue of $228.20 million for the quarter, compared to analysts' expectations of $211.63 million. Payoneer Global had a net margin of 11.23% and a return on equity of 14.80%. The company's quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 earnings per share. On average, sell-side analysts anticipate that Payoneer Global will post 0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Payoneer Global news, Director Scott H. Galit sold 12,221 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $5.23, for a total value of $63,915.83. Following the sale, the director now directly owns 2,451,171 shares in the company, valued at approximately $12,819,624.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Tsafi Goldman sold 61,464 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $5.43, for a total value of $333,749.52. Following the transaction, the insider now owns 870,832 shares of the company's stock, valued at approximately $4,728,617.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Scott H. Galit sold 12,221 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $5.23, for a total transaction of $63,915.83. Following the completion of the transaction, the director now directly owns 2,451,171 shares in the company, valued at approximately $12,819,624.33. The disclosure for this sale can be found here. Insiders have sold 1,228,282 shares of company stock worth $5,849,600 in the last three months. 5.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Payoneer Global

A number of institutional investors have recently made changes to their positions in PAYO. SG Americas Securities LLC bought a new position in shares of Payoneer Global during the 3rd quarter valued at $432,000. Bank of New York Mellon Corp grew its holdings in shares of Payoneer Global by 14.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,024,190 shares of the company's stock valued at $12,388,000 after purchasing an additional 253,195 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of Payoneer Global by 52.1% during the 3rd quarter. New York State Teachers Retirement System now owns 167,081 shares of the company's stock valued at $1,023,000 after purchasing an additional 57,200 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Payoneer Global by 2.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 539,323 shares of the company's stock valued at $3,301,000 after purchasing an additional 15,241 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of Payoneer Global by 19.2% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 76,288 shares of the company's stock valued at $467,000 after purchasing an additional 12,300 shares during the last quarter. 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.