Analysts Set Payoneer Global Inc. (NASDAQ:PAYO) PT at $7.40

Payoneer Global Inc. (NASDAQ:PAYO) has been given an average recommendation of “Hold” by the nine ratings firms that are covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $7.40.

Several brokerages recently weighed in on PAYO. Benchmark cut shares of Payoneer Global from a “buy” rating to a “hold” rating in a research note on Thursday, June 18th. Needham & Company LLC downgraded Payoneer Global from a “buy” rating to a “hold” rating in a report on Monday, June 15th. Weiss Ratings raised Payoneer Global from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 25th. Citigroup lowered Payoneer Global from a “buy” rating to a “neutral” rating and reduced their price target for the company from $10.00 to $7.40 in a research report on Tuesday, June 16th. Finally, William Blair cut Payoneer Global from an “outperform” rating to a “hold” rating in a research note on Monday, June 15th.

Insider Buying and Selling

In other Payoneer Global news, CFO Beatrice Ordonez sold 25,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $7.01, for a total transaction of $175,250.00. Following the completion of the sale, the chief financial officer owned 2,887,266 shares of the company’s stock, valued at approximately $20,239,734.66. This represents a 0.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Payoneer Global

A number of institutional investors have recently modified their holdings of PAYO. Great Lakes Advisors LLC acquired a new stake in shares of Payoneer Global during the second quarter worth $3,161,000. NINE MASTS CAPITAL Ltd acquired a new position in Payoneer Global in the second quarter valued at $96,000. BlackRock Inc. acquired a new position in Payoneer Global in the second quarter valued at $278,076,000. Deutsche Bank AG bought a new stake in Payoneer Global during the second quarter valued at $3,695,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Payoneer Global during the second quarter valued at $181,000. 82.22% of the stock is owned by institutional investors.

Payoneer Global Stock Performance

Shares of NASDAQ PAYO opened at $7.09 on Friday. The firm has a 50 day moving average price of $6.87 and a two-hundred day moving average price of $5.74. The stock has a market cap of $2.37 billion, a P/E ratio of 50.65, a price-to-earnings-growth ratio of 0.80 and a beta of 0.96. Payoneer Global has a 52-week low of $4.08 and a 52-week high of $7.18.

About Payoneer Global

Payoneer Global (NASDAQ: PAYO) operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company’s core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.