Payoneer Global (NASDAQ:PAYO) Sets New 1-Year High – Still a Buy?

Payoneer Global Inc. (NASDAQ:PAYO) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $11.02 and last traded at $11.02, with a volume of 8977 shares trading hands. The stock had previously closed at $10.93.

Analysts Set New Price Targets

PAYO has been the subject of a number of recent research reports. Cantor Fitzgerald raised Payoneer Global to a “strong-buy” rating in a research note on Monday, August 12th. Needham & Company LLC increased their price target on shares of Payoneer Global from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Citigroup raised their price target on shares of Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, August 12th. Northland Securities increased their target price on shares of Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, Benchmark raised their target price on Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $10.79.

Payoneer Global Trading Up 1.0 %

The stock has a market cap of $3.94 billion, a PE ratio of 31.57 and a beta of 0.82. The business has a fifty day simple moving average of $8.76 and a two-hundred day simple moving average of $7.03.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.04 by $0.07. The business had revenue of $248.30 million during the quarter, compared to analyst estimates of $225.44 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 earnings per share. On average, research analysts predict that Payoneer Global Inc. will post 0.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Crossover Managemen Technology sold 7,500,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $10.32, for a total value of $77,400,000.00. Following the transaction, the insider now owns 34,197,116 shares in the company, valued at $352,914,237.12. The trade was a 17.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Itai Perry sold 3,900 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $8.00, for a total transaction of $31,200.00. Following the sale, the chief accounting officer now owns 228,738 shares of the company’s stock, valued at approximately $1,829,904. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,562,402 shares of company stock worth $78,043,152. 5.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Payoneer Global

Institutional investors have recently made changes to their positions in the company. AXA S.A. lifted its position in Payoneer Global by 1,394.5% in the 2nd quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock valued at $78,538,000 after acquiring an additional 13,227,884 shares in the last quarter. Millennium Management LLC increased its holdings in Payoneer Global by 17.3% in the 2nd quarter. Millennium Management LLC now owns 6,764,016 shares of the company’s stock worth $37,473,000 after buying an additional 995,366 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Payoneer Global by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,790,400 shares of the company’s stock worth $23,283,000 after buying an additional 178,842 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Payoneer Global by 22.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,593,005 shares of the company’s stock valued at $25,446,000 after acquiring an additional 849,680 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Payoneer Global by 17.1% during the 2nd quarter. Victory Capital Management Inc. now owns 4,417,785 shares of the company’s stock valued at $24,475,000 after acquiring an additional 645,887 shares during the last quarter. Hedge funds and other 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.