Payoneer Global (NASDAQ:PAYO) Shares Gap Down – Time to Sell?

Shares of Payoneer Global Inc. (NASDAQ:PAYO) gapped down before the market opened on Friday . The stock had previously closed at $7.56, but opened at $7.21. Payoneer Global shares last traded at $7.44, with a volume of 512,073 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PAYO shares. Citigroup lifted their price target on shares of Payoneer Global from $14.50 to $16.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Wolfe Research cut shares of Payoneer Global from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Northland Securities boosted their target price on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Payoneer Global in a research report on Monday, February 3rd. They set a “buy” rating and a $13.00 target price on the stock. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Payoneer Global from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.07.

Payoneer Global Stock Down 0.6 %

The business’s 50 day moving average is $9.54 and its 200-day moving average is $9.28. The firm has a market cap of $2.70 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 2.88 and a beta of 0.97.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $261.74 million during the quarter, compared to the consensus estimate of $242.14 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. During the same quarter last year, the firm posted $0.05 EPS. As a group, equities analysts predict that Payoneer Global Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In other Payoneer Global news, CFO Beatrice Ordonez sold 85,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $10.40, for a total transaction of $884,000.00. Following the completion of the sale, the chief financial officer now owns 2,305,245 shares in the company, valued at $23,974,548. The trade was a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tsafi Goldman sold 96,350 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $10.07, for a total transaction of $970,244.50. Following the sale, the insider now owns 741,748 shares of the company’s stock, valued at approximately $7,469,402.36. The trade was a 11.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.57% of the company’s stock.

Institutional Trading of Payoneer Global

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP bought a new position in shares of Payoneer Global during the fourth quarter worth about $29,000. Smartleaf Asset Management LLC grew its position in shares of Payoneer Global by 405.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company’s stock worth $38,000 after acquiring an additional 3,064 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Payoneer Global by 29.3% during the fourth quarter. Fifth Third Bancorp now owns 4,488 shares of the company’s stock worth $45,000 after acquiring an additional 1,016 shares during the last quarter. Blue Trust Inc. grew its position in shares of Payoneer Global by 21.2% during the fourth quarter. Blue Trust Inc. now owns 5,380 shares of the company’s stock worth $54,000 after acquiring an additional 940 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Payoneer Global by 41.7% during the fourth quarter. GAMMA Investing LLC now owns 8,241 shares of the company’s stock worth $83,000 after acquiring an additional 2,425 shares during the last quarter. Institutional investors own 82.22% of the company’s stock.

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.