Payoneer Global (NASDAQ:PAYO) Shares Gap Up to $5.22

Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $5.22, but opened at $5.72. Payoneer Global shares last traded at $5.64, with a volume of 1,491,610 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PAYO. Keefe, Bruyette & Woods cut their price target on Payoneer Global from $7.00 to $6.00 and set an "outperform" rating on the stock in a report on Thursday, February 29th. Cantor Fitzgerald lowered their price target on shares of Payoneer Global from $8.00 to $7.00 and set an "overweight" rating for the company in a research report on Friday, March 1st. Needham & Company LLC reduced their target price on shares of Payoneer Global from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Monday, April 1st. 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. Finally, Benchmark reiterated a "buy" rating and set a $7.00 price objective on shares of Payoneer Global in a research report on Tuesday, March 26th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $6.57.

Payoneer Global Trading Up 12.6 %

The business's 50 day moving average price is $4.79 and its two-hundred day moving average price is $5.06. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 24.50 and a beta of 0.77.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.05. Payoneer Global had a return on equity of 14.80% and a net margin of 11.23%. The firm had revenue of $224.32 million during the quarter, compared to analyst estimates of $223.65 million. Equities analysts forecast that Payoneer Global Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Transactions at Payoneer Global

In related news, Director Scott H. Galit sold 16,697 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $5.39, for a total value of $89,996.83. Following the completion of the transaction, the director now owns 3,156,731 shares in the company, valued at approximately $17,014,780.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Scott H. Galit sold 16,697 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $5.39, for a total value of $89,996.83. Following the completion of the sale, the director now owns 3,156,731 shares in the company, valued at $17,014,780.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott H. Galit sold 340,120 shares of Payoneer Global stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $4.51, for a total value of $1,533,941.20. Following the transaction, the director now directly owns 3,127,981 shares in the company, valued at approximately $14,107,194.31. The disclosure for this sale can be found here. Insiders have sold 1,231,424 shares of company stock valued at $5,865,310 in the last quarter. Insiders own 5.57% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PAYO. Vanguard Group Inc. increased its position in Payoneer Global by 4.4% during the third quarter. Vanguard Group Inc. now owns 27,791,663 shares of the company's stock worth $170,085,000 after buying an additional 1,166,894 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Payoneer Global by 23.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,075,139 shares of the company's stock worth $12,700,000 after purchasing an additional 399,873 shares during the last quarter. Illinois Municipal Retirement Fund bought a new stake in Payoneer Global during the third quarter worth approximately $723,000. Principal Financial Group Inc. grew its holdings in Payoneer Global by 20.4% during the third quarter. Principal Financial Group Inc. now owns 1,500,980 shares of the company's stock valued at $9,186,000 after purchasing an additional 253,833 shares during the last quarter. Finally, Capula Management Ltd bought a new position in shares of Payoneer Global in the third quarter valued at approximately $1,083,000. Institutional investors and hedge funds 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.