Keefe, Bruyette & Woods Lowers Payoneer Global (NASDAQ:PAYO) Price Target to $11.00

Payoneer Global (NASDAQ:PAYO) had its target price reduced by analysts at Keefe, Bruyette & Woods from $12.00 to $11.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 5.97% from the company’s previous close.

Other analysts have also issued reports about the company. Needham & Company LLC increased their target price on Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Northland Securities increased their price objective on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Benchmark raised their target price on shares of Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group upped their price target on shares of Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Payoneer Global currently has a consensus rating of “Buy” and an average price target of $11.21.

Payoneer Global Stock Performance

PAYO opened at $10.38 on Monday. The stock has a fifty day moving average of $10.30 and a 200-day moving average of $8.03. The company has a market capitalization of $3.70 billion, a P/E ratio of 29.66 and a beta of 0.92. Payoneer Global has a fifty-two week low of $4.22 and a fifty-two week high of $11.29.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The firm had revenue of $248.30 million during the quarter, compared to the consensus estimate of $225.44 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 EPS. On average, equities research analysts predict that Payoneer Global will post 0.35 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Tsafi Goldman sold 263,873 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $10.10, for a total transaction of $2,665,117.30. Following the completion of the transaction, the insider now directly owns 741,748 shares in the company, valued at approximately $7,491,654.80. This represents a 26.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 34,197,116 shares in the company, valued at approximately $352,914,237.12. This trade represents a 17.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,918,725 shares of company stock worth $81,647,314. Corporate insiders own 5.57% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB grew its holdings in Payoneer Global by 4.9% during the 4th quarter. Nordea Investment Management AB now owns 881,026 shares of the company’s stock worth $8,951,000 after acquiring an additional 41,106 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Payoneer Global by 41.7% in the fourth quarter. GAMMA Investing LLC now owns 8,241 shares of the company’s stock worth $83,000 after purchasing an additional 2,425 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in Payoneer Global in the third quarter valued at $6,064,000. Tidal Investments LLC raised its position in Payoneer Global by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 195,407 shares of the company’s stock worth $1,471,000 after purchasing an additional 8,637 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Payoneer Global by 352.8% during the 3rd quarter. Barclays PLC now owns 498,727 shares of the company’s stock worth $3,755,000 after buying an additional 388,584 shares during the period. Institutional investors and hedge funds 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.