Payoneer Global (NASDAQ:PAYO) Price Target Raised to $12.00 at Benchmark

Payoneer Global (NASDAQ:PAYO - Get Free Report) had its target price hoisted by equities researchers at Benchmark from $10.00 to $12.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Benchmark's target price suggests a potential upside of 15.94% from the company's current price.

A number of other equities analysts have also weighed in on PAYO. Cantor Fitzgerald upgraded Payoneer Global to a "strong-buy" rating in a research report on Monday, August 12th. Needham & Company LLC increased their price objective on Payoneer Global from $10.00 to $14.00 and gave the stock a "buy" rating in a research note on Wednesday. Northland Securities increased their price objective on Payoneer Global from $9.00 to $10.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 10th. The Goldman Sachs Group increased their price objective on Payoneer Global from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Finally, Keefe, Bruyette & Woods increased their price objective on Payoneer Global from $7.00 to $8.00 and gave the stock an "outperform" rating in a research note on Thursday, August 8th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Payoneer Global currently has an average rating of "Buy" and a consensus target price of $10.79.

Payoneer Global Price Performance

Shares of PAYO stock traded up $0.05 on Wednesday, hitting $10.35. 8,653,581 shares of the stock traded hands, compared to its average volume of 2,681,350. The company has a market capitalization of $3.95 billion, a PE ratio of 38.19 and a beta of 0.82. Payoneer Global has a 1-year low of $4.22 and a 1-year high of $10.49. The company's fifty day moving average is $7.82 and its 200 day moving average is $6.49.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. The firm had revenue of $248.30 million for the quarter, compared to analyst estimates of $225.44 million. During the same period last year, the company earned $0.05 earnings per share. The firm's revenue for the quarter was up 19.4% on a year-over-year basis. As a group, equities research analysts expect that Payoneer Global will post 0.25 EPS for the current year.

Insider Activity at Payoneer Global

In other Payoneer Global news, Director Scott H. Galit sold 150,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the sale, the director now owns 1,809,674 shares in the company, valued at $12,794,395.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Itai Perry sold 4,100 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $8.00, for a total value of $32,800.00. Following the transaction, the chief accounting officer now owns 228,738 shares of the company's stock, valued at $1,829,904. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott H. Galit sold 150,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total value of $1,060,500.00. Following the completion of the transaction, the director now directly owns 1,809,674 shares in the company, valued at approximately $12,794,395.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 158,000 shares of company stock worth $1,124,500. Insiders own 5.57% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PAYO. Natixis purchased a new stake in shares of Payoneer Global during the first quarter worth about $3,106,000. Tidal Investments LLC purchased a new stake in shares of Payoneer Global during the first quarter worth about $986,000. Janus Henderson Group PLC boosted its holdings in shares of Payoneer Global by 131.6% during the first quarter. Janus Henderson Group PLC now owns 358,940 shares of the company's stock worth $1,744,000 after purchasing an additional 203,943 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Payoneer Global by 17.1% during the second quarter. Victory Capital Management Inc. now owns 4,417,785 shares of the company's stock worth $24,475,000 after purchasing an additional 645,887 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of Payoneer Global by 7.5% during the first quarter. ProShare Advisors LLC now owns 53,333 shares of the company's stock worth $259,000 after purchasing an additional 3,730 shares during the period. 82.22% of the stock is owned by institutional investors.

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.