Payoneer Global’s (PAYO) Buy Rating Reiterated at Citigroup

Payoneer Global (NASDAQ:PAYO)‘s stock had its “buy” rating reissued by equities researchers at Citigroup in a note issued to investors on Thursday, Marketbeat.com reports. They currently have a $10.00 price objective on the stock, down from their previous price objective of $13.00. Citigroup’s target price suggests a potential upside of 45.56% from the company’s previous close.

A number of other brokerages have also commented on PAYO. Keefe, Bruyette & Woods upgraded Payoneer Global from a “market perform” rating to an “outperform” rating and upped their target price for the company from $7.00 to $9.00 in a research note on Tuesday, May 13th. The Goldman Sachs Group cut their price target on shares of Payoneer Global from $11.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Needham & Company LLC decreased their price target on Payoneer Global from $14.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Payoneer Global in a research note on Monday, February 3rd. They issued a “buy” rating and a $13.00 price objective on the stock. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $10.71.

Payoneer Global Stock Performance

PAYO opened at $6.87 on Thursday. The stock has a 50-day moving average of $6.90 and a 200-day moving average of $8.97. Payoneer Global has a 52-week low of $5.03 and a 52-week high of $11.29. The company has a market cap of $2.48 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 2.88 and a beta of 1.03.

Payoneer Global (NASDAQ:PAYO) last announced its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The business had revenue of $246.62 million for the quarter, compared to the consensus estimate of $244.52 million. During the same quarter in the previous year, the company earned $0.08 EPS. Payoneer Global’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, research analysts predict that Payoneer Global will post 0.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC lifted its position in Payoneer Global by 44.0% during the 1st quarter. Intech Investment Management LLC now owns 306,202 shares of the company’s stock valued at $2,238,000 after purchasing an additional 93,524 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Payoneer Global by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 757,827 shares of the company’s stock valued at $5,540,000 after purchasing an additional 41,970 shares during the period. United Services Automobile Association acquired a new position in Payoneer Global during the 1st quarter valued at about $126,000. Caxton Associates LLP acquired a new position in Payoneer Global during the 1st quarter valued at about $172,000. Finally, Millennium Management LLC raised its position in shares of Payoneer Global by 15.5% in the 1st quarter. Millennium Management LLC now owns 7,537,691 shares of the company’s stock valued at $55,101,000 after acquiring an additional 1,014,096 shares during the period. 82.22% of the stock is currently owned by institutional investors and hedge funds.

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.