Payoneer Global (NASDAQ:PAYO) Given New $8.00 Price Target at The Goldman Sachs Group

Payoneer Global (NASDAQ:PAYO) had its price objective boosted by The Goldman Sachs Group from $6.50 to $8.00 in a research note published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently weighed in on PAYO. Keefe, Bruyette & Woods upped their price target on Payoneer Global from $7.00 to $8.00 and gave the company an outperform rating in a research report on Thursday. Benchmark reiterated a buy rating and issued a $9.00 price target on shares of Payoneer Global in a research report on Thursday. Finally, Needham & Company LLC increased their target price on Payoneer Global from $8.00 to $9.00 and gave the stock a buy rating in a report on Thursday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Payoneer Global currently has an average rating of Buy and an average target price of $7.83.

Payoneer Global Stock Performance

Shares of PAYO traded up $0.02 on Thursday, reaching $6.73. 4,088,931 shares of the stock traded hands, compared to its average volume of 2,645,287. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 22.43 and a beta of 0.82. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.09 and a quick ratio of 1.09. Payoneer Global has a 12 month low of $4.22 and a 12 month high of $6.84. The stock’s 50-day moving average price is $5.59 and its 200-day moving average price is $5.26.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $239.50 million for the quarter, compared to analysts’ expectations of $223.12 million. Payoneer Global had a return on equity of 17.56% and a net margin of 13.19%. Payoneer Global’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.12 earnings per share. Equities analysts forecast that Payoneer Global will post 0.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Avi Zeevi sold 23,793 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $5.90, for a total transaction of $140,378.70. Following the completion of the transaction, the director now directly owns 430,055 shares in the company, valued at $2,537,324.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Scott H. Galit sold 14,073 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $5.81, for a total value of $81,764.13. Following the completion of the sale, the director now directly owns 2,422,421 shares of the company’s stock, valued at $14,074,266.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Avi Zeevi sold 23,793 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $5.90, for a total value of $140,378.70. Following the completion of the sale, the director now directly owns 430,055 shares of the company’s stock, valued at $2,537,324.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,783,948 shares of company stock worth $9,713,888. 5.57% of the stock is owned by corporate insiders.

Institutional Trading of Payoneer Global

A number of hedge funds have recently made changes to their positions in PAYO. Vanguard Group Inc. lifted its holdings in Payoneer Global by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 28,579,172 shares of the company’s stock worth $148,897,000 after purchasing an additional 787,509 shares during the last quarter. Wellington Management Group LLP raised its holdings in Payoneer Global by 68.4% in the 4th quarter. Wellington Management Group LLP now owns 7,784,978 shares of the company’s stock valued at $40,014,000 after acquiring an additional 3,161,509 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Payoneer Global by 6.0% in the 4th quarter. Victory Capital Management Inc. now owns 5,618,682 shares of the company’s stock valued at $29,273,000 after acquiring an additional 320,108 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Payoneer Global by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,790,400 shares of the company’s stock valued at $23,283,000 after acquiring an additional 178,842 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Payoneer Global by 22.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,593,005 shares of the company’s stock valued at $25,446,000 after acquiring an additional 849,680 shares in the last quarter. 82.22% of the stock is 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.