Brokerages Set Payoneer Global Inc. (NASDAQ:PAYO) Target Price at $7.40

Shares of Payoneer Global Inc. (NASDAQ:PAYO) have been given a consensus rating of “Hold” by the nine ratings firms that are currently covering the stock, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $7.40.

A number of analysts recently commented on PAYO shares. Keefe, Bruyette & Woods lowered Payoneer Global from a “moderate buy” rating to a “hold” rating in a research report on Monday, June 15th. Northland Securities set a $7.40 price objective on Payoneer Global in a report on Monday, June 15th. William Blair downgraded Payoneer Global from an “outperform” 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 research report on Tuesday. Finally, Citigroup cut Payoneer Global from a “buy” rating to a “neutral” rating and cut their target price for the stock from $10.00 to $7.40 in a report on Tuesday, June 16th.

Payoneer Global Stock Performance

Shares of PAYO opened at $7.17 on Wednesday. The firm has a market cap of $2.43 billion, a PE ratio of 51.22, a price-to-earnings-growth ratio of 1.50 and a beta of 0.94. Payoneer Global has a 52-week low of $4.08 and a 52-week high of $7.18. The business’s 50 day moving average price is $7.12 and its two-hundred day moving average price is $5.89.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.07). The company had revenue of $274.26 million during the quarter, compared to the consensus estimate of $270.98 million. Payoneer Global had a net margin of 4.65% and a return on equity of 9.97%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $0.05 earnings per share. Research analysts predict that Payoneer Global will post 0.2 EPS for the current fiscal year.

Insider Activity

In other news, CFO Beatrice Ordonez sold 25,000 shares of the business’s stock in a transaction dated 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 directly owned 2,887,266 shares of the company’s stock, valued at $20,239,734.66. The trade was a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Payoneer Global

Several large investors have recently added to or reduced their stakes in PAYO. Royal Bank of Canada increased its holdings in Payoneer Global by 299.7% during the 1st quarter. Royal Bank of Canada now owns 158,997 shares of the company’s stock worth $1,162,000 after purchasing an additional 119,219 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Payoneer Global by 8.8% in the first quarter. AQR Capital Management LLC now owns 291,908 shares of the company’s stock valued at $2,134,000 after purchasing an additional 23,533 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Payoneer Global in the first quarter valued at approximately $172,000. United Services Automobile Association purchased a new position in shares of Payoneer Global during the first quarter valued at approximately $126,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Payoneer Global by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 757,827 shares of the company’s stock valued at $5,540,000 after buying an additional 41,970 shares during the last quarter. Institutional investors own 82.22% of the company’s stock.

Payoneer Global Company Profile

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.