Payoneer Global (NASDAQ:PAYO) Sets New 12-Month High – Here’s What Happened

Payoneer Global Inc. (NASDAQ:PAYO) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $8.44 and last traded at $8.43, with a volume of 140151 shares traded. The stock had previously closed at $8.35.

Analysts Set New Price Targets

Several analysts have commented on PAYO shares. Keefe, Bruyette & Woods lifted their price objective on shares of Payoneer Global from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Cantor Fitzgerald raised shares of Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Benchmark increased their price objective on Payoneer Global from $9.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday. Citigroup raised their target price on Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, The Goldman Sachs Group increased their price target on Payoneer Global from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Payoneer Global has a consensus rating of “Buy” and a consensus target price of $8.93.

Payoneer Global Price Performance

The firm’s 50 day moving average is $7.46 and its 200 day moving average is $6.20. The company has a market cap of $3.17 billion, a PE ratio of 28.30 and a beta of 0.85.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Payoneer Global had a net margin of 11.25% and a return on equity of 15.28%. The firm had revenue of $239.50 million during the quarter, compared to analyst estimates of $223.12 million. During the same period in the previous year, the business earned $0.12 EPS. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, analysts anticipate that Payoneer Global Inc. will post 0.25 EPS for the current year.

Insiders Place Their Bets

In other news, Director Scott H. Galit sold 150,000 shares of Payoneer Global stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the completion of the sale, the director now owns 1,809,674 shares in the company, valued at approximately $12,794,395.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Itai Perry sold 4,100 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $8.00, for a total value of $32,800.00. Following the transaction, the chief accounting officer now owns 228,738 shares of the company’s stock, valued at $1,829,904. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott H. Galit sold 150,000 shares of Payoneer Global stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total value of $1,060,500.00. Following the sale, the director now directly owns 1,809,674 shares of the company’s stock, valued at approximately $12,794,395.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 158,000 shares of company stock worth $1,124,500 in the last ninety days. 5.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Payoneer Global

Institutional investors have recently modified their holdings of the company. FSC Wealth Advisors LLC bought a new position in shares of Payoneer Global during the 3rd quarter valued at $68,000. Allspring Global Investments Holdings LLC boosted its position in Payoneer Global by 19,791.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 41,772 shares of the company’s stock valued at $315,000 after buying an additional 41,562 shares during the period. Blue Trust Inc. grew its stake in shares of Payoneer Global by 135.2% during the third quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock valued at $33,000 after buying an additional 2,552 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of Payoneer Global in the third quarter worth about $1,509,000. Finally, GAMMA Investing LLC lifted its stake in shares of Payoneer Global by 438.5% in the 3rd quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock valued at $44,000 after acquiring an additional 4,736 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors.

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.