Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $6.50, but opened at $7.28. Payoneer Global shares last traded at $7.51, with a volume of 2,167,361 shares trading hands.
Analyst Ratings Changes
A number of research analysts have commented on PAYO shares. Needham & Company LLC lifted their price objective on shares of Payoneer Global from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday. Keefe, Bruyette & Woods raised 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 note on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft began coverage on shares of Payoneer Global in a research report on Thursday, July 17th. They issued a "buy" rating and a $8.00 price target on the stock. Citigroup reiterated a "buy" rating and set a $10.00 price objective (down previously from $13.00) on shares of Payoneer Global in a research report on Thursday, May 22nd. Finally, Jefferies Financial Group boosted their price target on Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a report on Tuesday, May 27th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $10.06.
View Our Latest Report on PAYO
Payoneer Global Price Performance
The company has a market cap of $2.43 billion, a PE ratio of 26.06 and a beta of 0.97. The company has a 50-day moving average price of $6.77 and a two-hundred day moving average price of $7.58.
Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Payoneer Global had a net margin of 9.81% and a return on equity of 13.42%. The firm had revenue of $260.61 million during the quarter, compared to analyst estimates of $253.17 million. During the same period last year, the business earned $0.09 EPS. The firm's revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts anticipate that Payoneer Global Inc. will post 0.34 earnings per share 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 that occurred 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 completion of the transaction, the director owned 80,902 shares in the company, valued at approximately $547,706.54. This trade represents a 16.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.58% of the company's stock.
Institutional Investors Weigh In On Payoneer Global
Institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. grew its position in shares of Payoneer Global by 2.8% during the first quarter. Principal Financial Group Inc. now owns 1,593,475 shares of the company's stock worth $11,648,000 after acquiring an additional 44,087 shares during the last quarter. SG Americas Securities LLC lifted its position in Payoneer Global by 2,262.5% in the first quarter. SG Americas Securities LLC now owns 1,215,581 shares of the company's stock worth $8,886,000 after purchasing an additional 1,164,128 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Payoneer Global by 559.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,480 shares of the company's stock worth $62,000 after acquiring an additional 7,195 shares in the last quarter. Aspen Capital Management LLC acquired a new position in shares of Payoneer Global in the 1st quarter worth approximately $1,420,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Payoneer Global by 23.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 715,857 shares of the company's stock valued at $7,187,000 after buying an additional 135,730 shares in the last quarter. Institutional investors own 82.22% of the company's stock.
About Payoneer Global
(
Get Free Report)
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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