Payoneer Global (NASDAQ:PAYO) Lifted to “Strong-Buy” at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Payoneer Global (NASDAQ:PAYO) to a strong-buy rating in a report published on Monday, Zacks.com reports. Cantor Fitzgerald also issued estimates for Payoneer Global’s FY2024 earnings at $0.24 EPS.

PAYO has been the topic of several other reports. Needham & Company LLC raised their price objective on Payoneer Global from $8.00 to $9.00 and gave the stock a buy rating in a research note on Thursday, August 8th. Benchmark restated a buy rating and issued a $9.00 price target on shares of Payoneer Global in a research report on Thursday, August 8th. The Goldman Sachs Group boosted their price objective on shares of Payoneer Global from $6.50 to $8.00 and gave the company a buy rating in a research report on Thursday, August 8th. Keefe, Bruyette & Woods lifted their target price on Payoneer Global from $7.00 to $8.00 and gave the company an outperform rating in a research note on Thursday, August 8th. Finally, Citigroup increased their price target on Payoneer Global from $7.00 to $8.50 and gave the stock a buy rating in a research report on Monday. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Buy and an average price target of $8.25.

Payoneer Global Price Performance

Shares of PAYO stock opened at $7.00 on Monday. The firm has a market cap of $2.61 billion, a P/E ratio of 23.33 and a beta of 0.82. The firm has a fifty day moving average of $5.67 and a two-hundred day moving average of $5.32. 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 1-year low of $4.22 and a 1-year high of $7.20.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. Payoneer Global had a return on equity of 17.56% and a net margin of 13.19%. The business had revenue of $239.50 million during the quarter, compared to the consensus estimate of $223.12 million. During the same period last year, the firm earned $0.12 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, research analysts anticipate that Payoneer Global will post 0.23 earnings per share for the current fiscal year.

Insider Transactions at Payoneer Global

In related news, CAO Itai Perry sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $6.00, for a total value of $36,000.00. Following the sale, the chief accounting officer now directly owns 233,639 shares in the company, valued at approximately $1,401,834. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Payoneer Global news, Director Scott H. Galit sold 352,165 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $5.43, for a total transaction of $1,912,255.95. Following the sale, the director now directly owns 2,122,421 shares in the company, valued at approximately $11,524,746.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Itai Perry sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $6.00, for a total transaction of $36,000.00. Following the completion of the sale, the chief accounting officer now directly owns 233,639 shares of the company’s stock, valued at $1,401,834. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,760,155 shares of company stock worth $9,573,509. Company insiders own 5.57% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAYO. Federated Hermes Inc. bought a new stake in Payoneer Global in the fourth quarter worth about $29,000. SageView Advisory Group LLC acquired a new stake in shares of Payoneer Global during the first quarter worth $39,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Payoneer Global by 27.8% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock worth $46,000 after purchasing an additional 2,074 shares during the period. Blueshift Asset Management LLC acquired a new position in shares of Payoneer Global in the 4th quarter valued at $56,000. Finally, Sage Rhino Capital LLC acquired a new position in shares of Payoneer Global in the 2nd quarter valued at $56,000. Institutional investors own 82.22% of the company’s stock.

Payoneer Global Company Profile

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.