Payoneer Global (NASDAQ:PAYO) Price Target Raised to $8.00 at Needham & Company LLC

Payoneer Global (NASDAQ:PAYO) had its price objective lifted by equities research analysts at Needham & Company LLC from $7.00 to $8.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 36.05% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Cantor Fitzgerald cut their price target on Payoneer Global from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Friday, March 1st. Benchmark reissued a “buy” rating and set a $7.00 price target on shares of Payoneer Global in a research report on Tuesday, March 26th. The Goldman Sachs Group reduced their target price on shares of Payoneer Global from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. Keefe, Bruyette & Woods dropped their price target on shares of Payoneer Global from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Finally, Citigroup reduced their price target on shares of Payoneer Global from $7.50 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $6.71.

Payoneer Global Stock Performance

NASDAQ:PAYO opened at $5.88 on Thursday. The stock has a market capitalization of $2.17 billion, a PE ratio of 24.50 and a beta of 0.77. Payoneer Global has a fifty-two week low of $4.02 and a fifty-two week high of $6.48. The company has a fifty day moving average of $4.82 and a two-hundred day moving average of $5.07. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.09 and a current ratio of 1.09.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Payoneer Global had a return on equity of 14.80% and a net margin of 11.23%. The firm had revenue of $228.20 million for the quarter, compared to analyst estimates of $211.63 million. During the same period in the previous year, the company posted $0.02 earnings per share. The business’s revenue was up 18.9% on a year-over-year basis. As a group, research analysts forecast that Payoneer Global will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Payoneer Global news, insider Tsafi Goldman sold 6,118 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $5.45, for a total transaction of $33,343.10. Following the sale, the insider now directly owns 858,332 shares in the company, valued at $4,677,909.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Payoneer Global news, insider Tsafi Goldman sold 6,118 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $5.45, for a total value of $33,343.10. Following the completion of the transaction, the insider now owns 858,332 shares in the company, valued at $4,677,909.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Scott H. Galit sold 16,697 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $5.39, for a total value of $89,996.83. Following the sale, the director now directly owns 3,156,731 shares in the company, valued at approximately $17,014,780.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,228,282 shares of company stock valued at $5,849,600. Corporate insiders own 5.57% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

A number of institutional investors and hedge funds have recently modified their holdings of the company. Federated Hermes Inc. acquired a new stake in shares of Payoneer Global during the 4th quarter worth about $29,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Payoneer Global during the 3rd quarter worth approximately $39,000. SageView Advisory Group LLC acquired a new position in shares of Payoneer Global in the 1st quarter valued at $39,000. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Payoneer Global by 27.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock valued at $46,000 after buying an additional 2,074 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Payoneer Global by 74.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 8,241 shares of the company’s stock worth $50,000 after acquiring an additional 3,512 shares in the last quarter. Institutional investors and hedge funds 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.