Citigroup Issues Positive Forecast for Payoneer Global (NASDAQ:PAYO) Stock Price

Payoneer Global (NASDAQ:PAYO) had its price objective lifted by analysts at Citigroup from $8.50 to $13.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 30.00% from the stock’s current price.

Several other brokerages also recently weighed in on PAYO. Wolfe Research downgraded Payoneer Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Benchmark raised their price target on shares of Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Needham & Company LLC increased their price objective on shares of Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group upped their price target on shares of Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Northland Securities raised their target price on Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.86.

Payoneer Global Stock Performance

PAYO stock traded up $0.09 during trading on Tuesday, reaching $10.00. 1,275,326 shares of the company traded hands, compared to its average volume of 2,672,735. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 28.57 and a beta of 0.92. The business has a 50 day simple moving average of $10.41 and a 200 day simple moving average of $8.15. Payoneer Global has a 12 month low of $4.22 and a 12 month high of $11.29.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The business had revenue of $248.30 million for the quarter, compared to analysts’ expectations of $225.44 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The company’s revenue was up 19.4% compared to the same quarter last year. During the same period last year, the business earned $0.05 EPS. As a group, research analysts forecast that Payoneer Global will post 0.35 EPS for the current year.

Insider Activity at Payoneer Global

In other news, insider Tsafi Goldman sold 96,350 shares of Payoneer Global stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $10.07, for a total transaction of $970,244.50. Following the transaction, the insider now owns 741,748 shares in the company, valued at $7,469,402.36. The trade was a 11.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $10.32, for a total transaction of $77,400,000.00. Following the sale, the insider now owns 34,197,116 shares of the company’s stock, valued at approximately $352,914,237.12. The trade was a 17.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,914,625 shares of company stock valued at $81,614,514. 5.57% of the stock is owned by insiders.

Institutional Trading of Payoneer Global

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