Payoneer Global (NASDAQ:PAYO) Price Target Raised to $10.00

Key Points

• Payoneer Global has received a price target increase from Needham & Company LLC, now set at $10.00, indicating a potential upside of 33.42% based on its previous close.
• Other analysts have also upgraded their ratings, with Keefe, Bruyette & Woods moving to an "outperform" rating and raising their price target to $9.00.
• Payoneer Global’s stock is currently trading at $7.50, with a recent quarterly earnings miss of $0.05 per share against estimates of $0.06.

Payoneer Global (NASDAQ:PAYO - Get Free Report) had its price objective upped by Needham & Company LLC from $8.00 to $10.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's target price would indicate a potential upside of 50.60% from the company's current price.

PAYO has been the topic of a number of other research reports. Jefferies Financial Group lifted their price target on shares of Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Keefe, Bruyette & Woods raised shares of Payoneer Global from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $7.00 to $9.00 in a research note on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Payoneer Global in a research note on Thursday, July 17th. They issued a "buy" rating and a $8.00 price target on the stock. Finally, Citigroup reaffirmed a "buy" rating and set a $10.00 target price (down previously from $13.00) on shares of Payoneer Global in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $10.06.

Payoneer Global Stock Down 5.0%

Shares of Payoneer Global stock traded down $0.35 during midday trading on Wednesday, hitting $6.64. The company had a trading volume of 4,531,829 shares, compared to its average volume of 3,642,645. Payoneer Global has a 12-month low of $5.71 and a 12-month high of $11.29. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 8.74 and a beta of 0.97. The company has a fifty day simple moving average of $6.76 and a 200 day simple moving average of $7.52.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). Payoneer Global had a net margin of 9.81% and a return on equity of 13.42%. The business had revenue of $260.61 million for the quarter, compared to analyst estimates of $253.17 million. During the same quarter last year, the business earned $0.09 earnings per share. Payoneer Global's revenue was up 8.8% on a year-over-year basis. As a group, analysts expect that Payoneer Global will post 0.34 EPS for the current year.

Insider Activity at Payoneer Global

In other news, Director Susanna Morgan sold 16,180 shares of Payoneer Global stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $6.77, for a total transaction of $109,538.60. Following the transaction, the director owned 80,902 shares in the company, valued at $547,706.54. The trade was a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.58% of the stock is currently owned by corporate insiders.

Institutional Trading of Payoneer Global

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC acquired a new position in Payoneer Global in the 1st quarter valued at about $25,000. Quarry LP acquired a new position in Payoneer Global in the 4th quarter valued at about $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Payoneer Global in the 1st quarter valued at about $34,000. Versant Capital Management Inc grew its position in Payoneer Global by 420.6% in the 1st quarter. Versant Capital Management Inc now owns 5,034 shares of the company's stock valued at $37,000 after acquiring an additional 4,067 shares in the last quarter. Finally, IFP Advisors Inc grew its position in Payoneer Global by 47,800.0% in the 1st quarter. IFP Advisors Inc now owns 6,227 shares of the company's stock valued at $46,000 after acquiring an additional 6,214 shares in the last quarter. 82.22% of the stock is currently 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.