Payoneer Global (NASDAQ:PAYO) Price Target Cut to $9.00 by Analysts at The Goldman Sachs Group

Payoneer Global (NASDAQ:PAYO) had its price objective cut by The Goldman Sachs Group from $11.00 to $9.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently issued reports on PAYO. Deutsche Bank Aktiengesellschaft assumed coverage on Payoneer Global in a research report on Monday, February 3rd. They issued a “buy” rating and a $13.00 price objective on the stock. Citigroup lifted their price target on Payoneer Global from $14.50 to $16.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Keefe, Bruyette & Woods decreased their price objective on shares of Payoneer Global from $10.00 to $8.00 and set a “market perform” rating on the stock in a research report on Monday. Wolfe Research cut shares of Payoneer Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Finally, Northland Securities raised their price objective on shares of Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Payoneer Global presently has an average rating of “Moderate Buy” and a consensus target price of $12.36.

Payoneer Global Stock Performance

Shares of NASDAQ PAYO opened at $7.55 on Wednesday. Payoneer Global has a fifty-two week low of $4.69 and a fifty-two week high of $11.29. The stock has a market cap of $2.72 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 2.88 and a beta of 0.97. The stock has a fifty day moving average of $9.03 and a 200-day moving average of $9.31.

Payoneer Global (NASDAQ:PAYO) last posted its earnings results on Thursday, February 27th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The company had revenue of $261.74 million for the quarter, compared to analysts’ expectations of $242.14 million. During the same period in the previous year, the firm earned $0.05 EPS. On average, sell-side analysts predict that Payoneer Global will post 0.34 EPS for the current year.

Insider Activity

In other Payoneer Global news, CFO Beatrice Ordonez sold 85,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $10.40, for a total value of $884,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,305,245 shares of the company’s stock, valued at $23,974,548. The trade was a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Payoneer Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System increased its stake in Payoneer Global by 2.3% in the 4th quarter. California State Teachers Retirement System now owns 284,558 shares of the company’s stock worth $2,857,000 after purchasing an additional 6,350 shares during the period. Forum Financial Management LP purchased a new position in shares of Payoneer Global in the fourth quarter worth $122,000. Neo Ivy Capital Management purchased a new position in shares of Payoneer Global in the fourth quarter worth $1,543,000. Castleark Management LLC bought a new stake in Payoneer Global during the 4th quarter valued at $6,067,000. Finally, PharVision Advisers LLC purchased a new stake in Payoneer Global during the 4th quarter valued at $125,000. Institutional investors 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.