Payoneer Global (NASDAQ:PAYO) Reaches New 12-Month High – What’s Next?

Payoneer Global Inc. (NASDAQ:PAYO)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $10.90 and last traded at $10.83, with a volume of 2519021 shares trading hands. The stock had previously closed at $10.64.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a research note on Monday, August 12th. Keefe, Bruyette & Woods lifted their target price on Payoneer Global from $9.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Benchmark upped their target price on Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Needham & Company LLC increased their price target on Payoneer Global from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group boosted their price objective on Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $10.79.

Payoneer Global Price Performance

The firm has a market cap of $3.84 billion, a P/E ratio of 30.80 and a beta of 0.82. The company’s 50 day moving average is $8.62 and its two-hundred day moving average is $6.93.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The company had revenue of $248.30 million during the quarter, compared to analysts’ expectations of $225.44 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The business’s revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 EPS. Research analysts predict that Payoneer Global Inc. will post 0.32 EPS for the current year.

Insiders Place Their Bets

In related news, Director Scott H. Galit sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total value of $1,060,500.00. Following the transaction, the director now owns 1,809,674 shares in the company, valued at $12,794,395.18. This trade represents a 7.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Itai Perry sold 3,900 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $8.00, for a total value of $31,200.00. Following the sale, the chief accounting officer now directly owns 228,738 shares of the company’s stock, valued at $1,829,904. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,710,829 shares of company stock valued at $79,086,601. 5.57% of the stock is currently owned by insiders.

Institutional Trading of Payoneer Global

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of Payoneer Global by 135.2% during the third quarter. Blue Trust Inc. now owns 4,440 shares of the company’s stock worth $33,000 after buying an additional 2,552 shares during the period. Quarry LP acquired a new position in Payoneer Global during the second quarter worth approximately $29,000. GAMMA Investing LLC raised its stake in Payoneer Global by 438.5% in the 3rd quarter. GAMMA Investing LLC now owns 5,816 shares of the company’s stock valued at $44,000 after acquiring an additional 4,736 shares during the period. FSC Wealth Advisors LLC bought a new position in Payoneer Global during the third quarter worth $68,000. Finally, Sage Rhino Capital LLC acquired a new position in shares of Payoneer Global in the second quarter valued at approximately $56,000. 82.22% of the stock is currently 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.