Payoneer Global (NASDAQ:PAYO) Trading 7% Higher - Should You Buy?

Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report) rose 7% on Monday . The stock traded as high as $6.98 and last traded at $6.94. Approximately 606,553 shares were traded during trading, a decline of 81% from the average daily volume of 3,205,094 shares. The stock had previously closed at $6.48.

Analyst Ratings Changes

PAYO has been the topic of several recent research reports. Citigroup reissued a "buy" rating and set a $10.00 price objective (down previously from $13.00) on shares of Payoneer Global in a report on Thursday, May 22nd. The Goldman Sachs Group reduced 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. Keefe, Bruyette & Woods upgraded Payoneer Global from a "market perform" rating to an "outperform" rating and raised their target price for the company from $7.00 to $9.00 in a research note on Tuesday, May 13th. Jefferies Financial Group lifted their price target on Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Finally, Needham & Company LLC cut their price target 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. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $10.44.

Payoneer Global Trading Up 7.1%

The company has a market cap of $2.51 billion, a P/E ratio of 23.13 and a beta of 0.98. The business's fifty day moving average is $6.84 and its 200 day moving average is $8.01.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). The company had revenue of $246.62 million during the quarter, compared to the consensus estimate of $244.52 million. Payoneer Global had a return on equity of 15.70% and a net margin of 11.32%. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $0.08 EPS. As a group, research analysts expect that Payoneer Global Inc. will post 0.34 EPS for the current fiscal year.

Insider Transactions at Payoneer Global

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

Institutional Investors Weigh In On Payoneer Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Maryland State Retirement & Pension System raised its holdings in Payoneer Global by 1.2% during the 4th quarter. Maryland State Retirement & Pension System now owns 86,467 shares of the company's stock valued at $868,000 after acquiring an additional 1,002 shares during the period. Summit Investment Advisors Inc. raised its holdings in Payoneer Global by 5.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 30,355 shares of the company's stock valued at $305,000 after acquiring an additional 1,663 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Payoneer Global by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,016 shares of the company's stock worth $132,000 after purchasing an additional 1,808 shares during the period. Bank of Montreal Can increased its holdings in shares of Payoneer Global by 8.6% in the fourth quarter. Bank of Montreal Can now owns 28,613 shares of the company's stock worth $287,000 after purchasing an additional 2,258 shares during the period. Finally, Xponance Inc. increased its holdings in shares of Payoneer Global by 12.5% in the fourth quarter. Xponance Inc. now owns 20,711 shares of the company's stock worth $208,000 after purchasing an additional 2,303 shares during the period. 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.