Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report) shares traded up 7% during trading on Monday . The stock traded as high as $6.98 and last traded at $6.94. 606,553 shares changed hands during trading, a decline of 81% from the average session volume of 3,205,094 shares. The stock had previously closed at $6.48.
Wall Street Analyst Weigh In
Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Payoneer Global in a research note on Thursday. They set a "buy" rating and a $8.00 target price for the company. Jefferies Financial Group boosted their target price on Payoneer Global from $8.00 to $8.50 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Citigroup reissued a "buy" rating and set a $10.00 target price (down from $13.00) on shares of Payoneer Global in a research note on Thursday, May 22nd. 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 note on Thursday, May 8th. Finally, 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 note on Wednesday, April 2nd. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $9.81.
Get Our Latest Report on PAYO
Payoneer Global Stock Performance
The company has a 50-day moving average price of $6.84 and a 200-day moving average price of $7.97. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 23.00 and a beta of 0.98.
Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). The firm had revenue of $246.62 million for the quarter, compared to analysts' expectations of $244.52 million. Payoneer Global had a return on equity of 15.70% and a net margin of 11.32%. The company's quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 EPS. On average, research analysts expect that Payoneer Global Inc. will post 0.34 earnings per share for the current fiscal year.
Insider Transactions at Payoneer Global
In related news, Director Susanna Morgan sold 16,180 shares of the firm's stock in a transaction that occurred 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. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.58% of the stock is owned by corporate insiders.
Institutional Trading of Payoneer Global
Hedge funds have recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System lifted its position in Payoneer Global by 1.2% in the fourth quarter. Maryland State Retirement & Pension System now owns 86,467 shares of the company's stock valued at $868,000 after purchasing an additional 1,002 shares during the period. Summit Investment Advisors Inc. raised its stake in shares of Payoneer Global by 5.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 30,355 shares of the company's stock worth $305,000 after buying an additional 1,663 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Payoneer Global by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,016 shares of the company's stock worth $132,000 after buying an additional 1,808 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Payoneer Global by 8.6% during the 4th quarter. Bank of Montreal Can now owns 28,613 shares of the company's stock worth $287,000 after buying an additional 2,258 shares in the last quarter. Finally, Xponance Inc. raised its stake in shares of Payoneer Global by 12.5% during the 4th quarter. Xponance Inc. now owns 20,711 shares of the company's stock worth $208,000 after buying an additional 2,303 shares in the last quarter. 82.22% of the stock is owned by institutional investors and hedge funds.
About Payoneer Global
(
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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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