Payoneer Global (NASDAQ:PAYO) Announces Quarterly Earnings Results

Payoneer Global (NASDAQ:PAYO - Get Free Report) released its quarterly earnings results on Wednesday. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03, Briefing.com reports. The company had revenue of $228.20 million during the quarter, compared to analyst estimates of $211.63 million. Payoneer Global had a return on equity of 14.80% and a net margin of 11.23%. The firm's revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the business posted $0.02 earnings per share. Payoneer Global updated its FY 2024 guidance to EPS.

Payoneer Global Stock Down 0.2 %

Shares of NASDAQ PAYO traded down $0.01 during mid-day trading on Thursday, reaching $5.87. 2,647,529 shares of the company were exchanged, compared to its average volume of 2,555,286. The firm has a 50-day moving average of $4.82 and a 200 day moving average of $5.07. Payoneer Global has a 1 year low of $4.02 and a 1 year high of $6.48. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 24.46 and a beta of 0.77.

Insiders Place Their Bets

In other Payoneer Global news, Director Scott H. Galit sold 340,120 shares of the firm's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $4.51, for a total value of $1,533,941.20. Following the completion of the sale, the director now owns 3,127,981 shares of the company's stock, valued at $14,107,194.31. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Payoneer Global news, insider Tsafi Goldman sold 6,118 shares of Payoneer Global stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $5.45, for a total transaction of $33,343.10. Following the completion of the sale, the insider now directly owns 858,332 shares in the company, valued at approximately $4,677,909.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott H. Galit sold 340,120 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $4.51, for a total transaction of $1,533,941.20. Following the completion of the sale, the director now owns 3,127,981 shares in the company, valued at approximately $14,107,194.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,228,282 shares of company stock worth $5,849,600. 5.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PAYO shares. The Goldman Sachs Group cut their price objective on shares of Payoneer Global from $7.00 to $6.00 and set a "buy" rating on the stock in a research report on Thursday, January 11th. Benchmark reiterated a "buy" rating and issued a $7.00 price target on shares of Payoneer Global in a report on Tuesday, March 26th. Keefe, Bruyette & Woods dropped their price objective on Payoneer Global from $7.00 to $6.00 and set an "outperform" rating for the company in a report on Thursday, February 29th. Citigroup decreased their target price on Payoneer Global from $7.50 to $6.00 and set a "buy" rating for the company in a research report on Thursday, March 21st. Finally, Needham & Company LLC raised their price target on shares of Payoneer Global from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Thursday. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Payoneer Global has an average rating of "Buy" and a consensus price target of $6.71.

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.