Payoneer Global's (PAYO) "Buy" Rating Reaffirmed at Needham & Company LLC

Key Points

• Payoneer Global's stock received a "buy" rating from Needham & Company LLC, with a target price of $10.00, indicating a potential upside of 63.13% from its previous close.
• Currently, the company has a consensus rating of "Moderate Buy" from analysts, with eight buy ratings and two hold ratings.
• Payoneer Global reported a revenue increase of 8.8% year-over-year, despite missing earnings expectations in its last quarterly report.

Payoneer Global (NASDAQ:PAYO - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Needham & Company LLC in a report issued on Monday,Benzinga reports. They currently have a $10.00 target price on the stock. Needham & Company LLC's price target suggests a potential upside of 63.13% from the stock's previous close.

A number of other research firms have also recently issued reports on PAYO. Deutsche Bank Aktiengesellschaft began coverage on Payoneer Global in a report on Thursday, July 17th. They set a "buy" rating and a $8.00 price objective for the company. Weiss Ratings restated a "hold (c)" rating on shares of Payoneer Global in a report on Saturday, September 27th. Finally, Wall Street Zen raised shares of Payoneer Global from a "sell" rating to a "hold" rating in a research note on Friday. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.06.

Payoneer Global Stock Performance

NASDAQ PAYO opened at $6.13 on Monday. The company has a market cap of $2.21 billion, a P/E ratio of 23.58, a P/E/G ratio of 8.07 and a beta of 0.95. The business's 50 day moving average price is $6.63 and its 200-day moving average price is $6.76. Payoneer Global has a fifty-two week low of $5.71 and a fifty-two week high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $260.61 million for the quarter, compared to the consensus estimate of $253.17 million. Payoneer Global had a net margin of 9.81% and a return on equity of 13.42%. The company's revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS. As a group, equities analysts predict that Payoneer Global will post 0.34 EPS for the current year.

Institutional Trading of Payoneer Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Payoneer Global by 519.8% in the first quarter. GAMMA Investing LLC now owns 51,075 shares of the company's stock valued at $373,000 after purchasing an additional 42,834 shares during the period. Farther Finance Advisors LLC purchased a new position in Payoneer Global during the 1st quarter worth approximately $25,000. SG Americas Securities LLC lifted its stake in Payoneer Global by 2,262.5% during the 1st quarter. SG Americas Securities LLC now owns 1,215,581 shares of the company's stock valued at $8,886,000 after acquiring an additional 1,164,128 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of Payoneer Global in the 1st quarter valued at $741,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Payoneer Global in the first quarter worth $126,000. Institutional investors and hedge funds own 82.22% of the company's stock.

About Payoneer Global

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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