Brokerages Set Payoneer Global Inc. (NASDAQ:PAYO) Price Target at $7.40

Payoneer Global Inc. (NASDAQ:PAYO) has been given a consensus recommendation of “Hold” by the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $7.40.

Several equities analysts recently issued reports on PAYO shares. Wall Street Zen upgraded Payoneer Global from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. William Blair cut Payoneer Global from an “outperform” rating to a “hold” rating in a research report on Monday, June 15th. Bank of America initiated coverage on Payoneer Global in a research note on Wednesday, March 25th. They issued a “buy” rating and a $6.00 target price on the stock. Benchmark lowered Payoneer Global from a “buy” rating to a “hold” rating in a report on Thursday, June 18th. Finally, Northland Securities set a $7.40 target price on Payoneer Global in a report on Monday, June 15th.

Payoneer Global Stock Performance

Shares of Payoneer Global stock opened at $7.12 on Tuesday. Payoneer Global has a 1 year low of $4.08 and a 1 year high of $7.66. The company has a market capitalization of $2.38 billion, a P/E ratio of 35.60, a PEG ratio of 0.76 and a beta of 0.95. The company’s fifty day moving average is $6.18 and its two-hundred day moving average is $5.55.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Payoneer Global had a net margin of 6.76% and a return on equity of 11.10%. The company had revenue of $261.60 million for the quarter, compared to analyst estimates of $255.12 million. During the same period in the previous year, the business posted $0.05 earnings per share. Payoneer Global’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities analysts expect that Payoneer Global will post 0.27 earnings per share for the current year.

Insider Transactions at Payoneer Global

In other Payoneer Global news, CFO Beatrice Ordonez sold 25,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $7.01, for a total value of $175,250.00. Following the transaction, the chief financial officer directly owned 2,887,266 shares of the company’s stock, valued at approximately $20,239,734.66. The trade was a 0.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.06% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

Hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its position in shares of Payoneer Global by 137.3% in the 2nd quarter. Invesco Ltd. now owns 5,562,623 shares of the company’s stock worth $38,104,000 after buying an additional 3,218,917 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Payoneer Global by 2,061.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,013,014 shares of the company’s stock valued at $4,893,000 after acquiring an additional 966,146 shares in the last quarter. Marshall Wace LLP increased its holdings in Payoneer Global by 238.5% during the 4th quarter. Marshall Wace LLP now owns 1,362,962 shares of the company’s stock valued at $7,660,000 after acquiring an additional 960,371 shares in the last quarter. HRT Financial LP acquired a new position in Payoneer Global during the fourth quarter worth about $4,912,000. Finally, Blue Owl Capital Holdings LP acquired a new position in Payoneer Global during the fourth quarter worth about $4,680,000. Institutional investors and hedge funds own 82.22% of the company’s stock.

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.