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 lifted by investment analysts at Needham & Company LLC from $8.00 to $10.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's price objective would indicate a potential upside of 33.42% from the stock's previous close.

A number of other research analysts have also weighed in on PAYO. Keefe, Bruyette & Woods upgraded Payoneer Global from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $7.00 to $9.00 in a research report on Tuesday, May 13th. Citigroup reissued a "buy" rating and issued a $10.00 price objective (down from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Payoneer Global in a research report on Thursday, July 17th. They issued a "buy" rating and a $8.00 price objective on the stock. Finally, Jefferies Financial Group increased their price objective on shares of Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $10.06.

Payoneer Global Stock Performance

Shares of PAYO stock traded up $1.00 during mid-day trading on Wednesday, reaching $7.50. 7,372,206 shares of the company's stock traded hands, compared to its average volume of 3,389,938. Payoneer Global has a 12 month low of $5.71 and a 12 month high of $11.29. The firm has a 50 day moving average price of $6.75 and a two-hundred day moving average price of $7.61. The firm has a market capitalization of $2.71 billion, a PE ratio of 24.68 and a beta of 0.97.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). Payoneer Global had a return on equity of 15.70% and a net margin of 11.32%. During the same period in the previous year, the business posted $0.09 earnings per share. The company's quarterly revenue was up 8.8% on a year-over-year basis. As a group, equities analysts expect that Payoneer Global will post 0.34 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Payoneer Global

A number of institutional investors and hedge funds have recently modified their holdings of PAYO. Susquehanna Capital Management LLC increased its stake in shares of Payoneer Global by 290.3% during 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 in the last quarter. Nuveen LLC acquired a new position in Payoneer Global during the first quarter worth about $28,023,000. Vanguard Group Inc. boosted its position in Payoneer Global by 12.1% during the first quarter. Vanguard Group Inc. now owns 33,881,608 shares of the company's stock worth $247,675,000 after acquiring an additional 3,656,056 shares during the last quarter. Deutsche Bank AG boosted its position in Payoneer Global by 252.8% during the fourth quarter. Deutsche Bank AG now owns 2,779,110 shares of the company's stock worth $27,902,000 after acquiring an additional 1,991,449 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in Payoneer Global in the 4th quarter valued at about $19,305,000. Hedge funds and other institutional investors 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.

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