Payoneer Global (NASDAQ:PAYO) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Payoneer Global's stock rating was upgraded from a "sell" to a "hold" by Wall Street Zen, reflecting improved analyst sentiment towards the company.
• Various analysts, including Needham & Company and Jefferies Financial Group, have set a price target for Payoneer with a consensus rating of "Moderate Buy" and an average target price of $10.06.
• The company's quarterly earnings report showed a revenue increase of 8.8% year-over-year, despite missing earnings per share estimates, indicating operational growth potential.

Wall Street Zen upgraded shares of Payoneer Global (NASDAQ:PAYO - Free Report) from a sell rating to a hold rating in a research note released on Saturday.

A number of other equities analysts have also recently weighed in on the company. Needham & Company LLC lifted their price target on Payoneer Global from $8.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Citigroup reissued a "buy" rating and issued a $10.00 price target (down previously from $13.00) on shares of Payoneer Global in a research note on Thursday, May 22nd. Keefe, Bruyette & Woods raised Payoneer Global from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $7.00 to $9.00 in a research note on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft initiated coverage on 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, Jefferies Financial Group lifted their target price on Payoneer Global from $8.00 to $8.50 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $10.06.

Payoneer Global Stock Down 0.9%

Payoneer Global stock traded down $0.06 during midday trading on Friday, hitting $6.65. The company's stock had a trading volume of 1,949,877 shares, compared to its average volume of 3,782,098. The stock's 50-day moving average price is $6.74 and its 200-day moving average price is $7.35. Payoneer Global has a 12 month low of $5.71 and a 12 month high of $11.29. The company has a market capitalization of $2.40 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 8.83 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 for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The company had revenue of $260.61 million during the quarter, compared to analysts' expectations of $253.17 million. Payoneer Global had a return on equity of 13.42% and a net margin of 9.81%.The company's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 EPS. As a group, equities analysts anticipate that Payoneer Global will post 0.34 EPS for the current year.

Insiders Place Their Bets

In other Payoneer Global news, Director Susanna Morgan sold 16,180 shares of Payoneer Global stock in a transaction dated 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 of the company's stock, 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 SEC, which is available through this hyperlink. 2.58% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Payoneer Global

Large investors have recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Payoneer Global in the 4th quarter valued at approximately $29,000. Farther Finance Advisors LLC bought a new stake in shares of Payoneer Global in the 1st quarter valued at approximately $25,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Payoneer Global in the 1st quarter valued at approximately $34,000. Versant Capital Management Inc grew its stake in shares of 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 buying an additional 4,067 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in shares of 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 buying an additional 6,214 shares in the last quarter. 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.