Needham & Company LLC Lowers Payoneer Global (NASDAQ:PAYO) Price Target to $8.00

Payoneer Global (NASDAQ:PAYO - Free Report) had its price objective decreased by Needham & Company LLC from $14.00 to $8.00 in a research report report published on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

PAYO has been the subject of several other reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Payoneer Global in a research report on Monday, February 3rd. They set a "buy" rating and a $13.00 price target for the company. The Goldman Sachs Group decreased their target price on shares of Payoneer Global from $11.00 to $9.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Wolfe Research downgraded shares of Payoneer Global from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods cut their target price on shares of Payoneer Global from $10.00 to $8.00 and set a "market perform" rating for the company in a research report on Monday, March 31st. Finally, Citigroup boosted their price objective on shares of Payoneer Global from $14.50 to $16.50 and gave the company a "buy" rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $11.64.

Payoneer Global Price Performance

Shares of PAYO traded up $0.35 during trading hours on Thursday, hitting $7.53. The stock had a trading volume of 2,557,271 shares, compared to its average volume of 3,167,375. The firm has a 50 day simple moving average of $6.92 and a 200-day simple moving average of $9.05. The firm has a market capitalization of $2.71 billion, a P/E ratio of 21.51, a price-to-earnings-growth ratio of 2.88 and a beta of 1.03. Payoneer Global has a 1-year low of $5.03 and a 1-year high of $11.29.

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

Institutional Trading of Payoneer Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. purchased a new position in shares of Payoneer Global during the fourth quarter worth approximately $1,233,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Payoneer Global during the fourth quarter worth approximately $1,276,000. Entropy Technologies LP purchased a new position in shares of Payoneer Global during the fourth quarter worth approximately $540,000. Allspring Global Investments Holdings LLC increased its position in shares of Payoneer Global by 133.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 97,538 shares of the company's stock worth $990,000 after acquiring an additional 55,766 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Payoneer Global during the fourth quarter valued at approximately $1,809,000. 82.22% of the stock is owned by hedge funds and other 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.