Brokerages Set Payoneer Global Inc. (NASDAQ:PAYO) Target Price at $10.44

Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report) has received a consensus recommendation of "Buy" from the ten ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $10.44.

A number of research firms have recently commented on PAYO. Keefe, Bruyette & Woods upgraded Payoneer Global from a "market perform" rating to an "outperform" rating and increased their target price for the company from $7.00 to $9.00 in a research report on Tuesday, May 13th. Citigroup reiterated a "buy" rating and set a $10.00 target price (down from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. Jefferies Financial Group increased their target price on Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a research report on Tuesday, May 27th. The Goldman Sachs Group lowered their target price on Payoneer Global from $11.00 to $9.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Finally, Needham & Company LLC lowered 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.

Insiders Place Their Bets

In other Payoneer Global news, Director Susanna Morgan sold 16,180 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $6.77, for a total value of $109,538.60. Following the sale, the director owned 80,902 shares in the company, valued at $547,706.54. This trade represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.58% of the company's stock.

Institutional Trading of Payoneer Global

A number of hedge funds and other institutional investors have recently bought and sold shares of PAYO. Susquehanna Capital Management LLC increased its stake in Payoneer Global by 290.3% in the fourth quarter. Susquehanna Capital Management LLC now owns 25,268,954 shares of the company's stock worth $253,700,000 after purchasing an additional 18,794,047 shares during the period. Nuveen LLC purchased a new stake in Payoneer Global in the first quarter worth $28,023,000. Vanguard Group Inc. increased its stake in Payoneer Global by 12.1% in the first quarter. Vanguard Group Inc. now owns 33,881,608 shares of the company's stock worth $247,675,000 after purchasing an additional 3,656,056 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Payoneer Global by 200.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,470,347 shares of the company's stock worth $34,842,000 after purchasing an additional 2,313,481 shares during the period. Finally, Deutsche Bank AG increased its stake in Payoneer Global by 252.8% in the fourth quarter. Deutsche Bank AG now owns 2,779,110 shares of the company's stock worth $27,902,000 after purchasing an additional 1,991,449 shares during the period. Hedge funds and other institutional investors own 82.22% of the company's stock.

Payoneer Global Stock Down 4.3%

PAYO stock traded down $0.30 during midday trading on Friday, hitting $6.68. The company's stock had a trading volume of 3,446,112 shares, compared to its average volume of 3,228,056. Payoneer Global has a 12 month low of $5.03 and a 12 month high of $11.29. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 22.27 and a beta of 0.98. The company has a 50 day moving average of $6.87 and a two-hundred day moving average of $8.10.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). Payoneer Global had a return on equity of 15.70% and a net margin of 11.32%. 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 company earned $0.08 earnings per share. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts anticipate that Payoneer Global will post 0.34 earnings per share for the current fiscal year.

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.