Needham & Company LLC Boosts Payoneer Global (NASDAQ:PAYO) Price Target to $10.00

by · The Markets Daily

Payoneer Global (NASDAQ:PAYO – Free Report) had its price objective lifted by Needham & Company LLC from $9.00 to $10.00 in a research report released on Monday, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also recently commented on PAYO. The Goldman Sachs Group increased their price target on Payoneer Global from $6.50 to $8.00 and gave the company a buy rating in a research note on Thursday, August 8th. Citigroup lifted their price target on Payoneer Global from $7.00 to $8.50 and gave the company a buy rating in a research note on Monday, August 12th. Benchmark reaffirmed a buy rating and issued a $9.00 price objective on shares of Payoneer Global in a research note on Thursday, August 8th. Northland Securities lifted their target price on shares of Payoneer Global from $9.00 to $10.00 and gave the stock an outperform rating in a research report on Tuesday, September 10th. Finally, Cantor Fitzgerald raised shares of Payoneer Global to a strong-buy rating in a report on Monday, August 12th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Payoneer Global currently has an average rating of Buy and a consensus target price of $8.64.

Check Out Our Latest Research Report on PAYO

Payoneer Global Trading Up 0.3 %

Shares of NASDAQ PAYO opened at $7.74 on Monday. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 25.80 and a beta of 0.85. Payoneer Global has a 12 month low of $4.22 and a 12 month high of $8.01. The stock has a 50-day moving average price of $7.13 and a two-hundred day moving average price of $6.00.

Payoneer Global (NASDAQ:PAYO – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, topping 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 business had revenue of $239.50 million during the quarter, compared to analysts’ expectations of $223.12 million. During the same period in the prior year, the company earned $0.12 EPS. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, sell-side analysts predict that Payoneer Global will post 0.25 earnings per share for the current year.

Insider Buying and Selling at Payoneer Global

In other Payoneer Global news, Director Scott H. Galit sold 150,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total value of $1,060,500.00. Following the completion of the sale, the director now directly owns 1,809,674 shares in the company, valued at approximately $12,794,395.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Payoneer Global news, Director Scott H. Galit sold 10,601 shares of Payoneer Global stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $5.52, for a total transaction of $58,517.52. Following the completion of the transaction, the director now owns 2,122,421 shares in the company, valued at approximately $11,715,763.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott H. Galit sold 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total value of $1,060,500.00. Following the completion of the transaction, the director now owns 1,809,674 shares in the company, valued at $12,794,395.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.57% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

Several large investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in shares of Payoneer Global by 68.4% in the 4th quarter. Wellington Management Group LLP now owns 7,784,978 shares of the company’s stock worth $40,014,000 after acquiring an additional 3,161,509 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Payoneer Global by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 28,579,172 shares of the company’s stock worth $148,897,000 after purchasing an additional 787,509 shares during the last quarter. Insight Wealth Strategies LLC boosted its holdings in Payoneer Global by 176.4% during the first quarter. Insight Wealth Strategies LLC now owns 356,666 shares of the company’s stock worth $1,733,000 after purchasing an additional 227,604 shares during the last quarter. Trueblood Wealth Management LLC bought a new stake in Payoneer Global in the 1st quarter worth about $101,000. Finally, Principal Financial Group Inc. increased its stake in Payoneer Global by 4.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,579,996 shares of the company’s stock valued at $7,679,000 after buying an additional 64,126 shares during the last quarter. 82.22% of the stock is currently owned by institutional investors.

About Payoneer Global

(Get Free Report)

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.

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