Benchmark Cuts Payoneer Global (NASDAQ:PAYO) Price Target to $10.00

Payoneer Global (NASDAQ:PAYO) had its target price reduced by Benchmark from $12.00 to $10.00 in a report released on Tuesday morning,Benzinga reports. Benchmark currently has a buy rating on the stock.

Other analysts have also issued reports about the stock. Weiss Ratings restated a “hold (c)” rating on shares of Payoneer Global in a report on Wednesday, October 8th. Wall Street Zen upgraded Payoneer Global from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of Payoneer Global in a research report on Monday, October 6th. Finally, Jefferies Financial Group set a $7.00 price target on Payoneer Global in a research note on Wednesday, November 5th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Payoneer Global Stock Up 2.0%

Shares of PAYO stock opened at $5.67 on Tuesday. The stock has a fifty day moving average of $5.73 and a 200 day moving average of $6.31. Payoneer Global has a 52 week low of $4.91 and a 52 week high of $11.19. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 7.66 and a beta of 1.00.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Payoneer Global had a net margin of 6.96% and a return on equity of 10.71%. The company had revenue of $270.85 million for the quarter, compared to analysts’ expectations of $262.66 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts anticipate that Payoneer Global will post 0.34 earnings per share for the current year.

Institutional Investors Weigh In On Payoneer Global

Institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. grew its position in Payoneer Global by 246.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock valued at $33,000 after purchasing an additional 3,298 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Payoneer Global in the first quarter worth approximately $34,000. Quarry LP lifted its stake in shares of Payoneer Global by 9,273.2% in the third quarter. Quarry LP now owns 10,498 shares of the company’s stock worth $64,000 after buying an additional 10,386 shares in the last quarter. Journey Strategic Wealth LLC purchased a new stake in shares of Payoneer Global during the second quarter valued at approximately $71,000. Finally, Marex Group plc bought a new stake in shares of Payoneer Global during the second quarter valued at approximately $72,000. 82.22% of the stock is owned by hedge funds and other institutional investors.

Payoneer Global Company Profile

Payoneer Global (NASDAQ: PAYO) operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company’s core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.