Payoneer Global (NASDAQ:PAYO) Given New $16.50 Price Target at Citigroup

Payoneer Global (NASDAQ:PAYO - Free Report) had its target price hoisted by Citigroup from $14.50 to $16.50 in a research note issued to investors on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on PAYO. Needham & Company LLC lifted their price target on Payoneer Global from $10.00 to $14.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods decreased their price target on Payoneer Global from $11.00 to $10.00 and set a "market perform" rating for the company in a report on Friday, February 28th. Wolfe Research downgraded Payoneer Global from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. The Goldman Sachs Group lifted their price target on Payoneer Global from $9.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Payoneer Global in a report on Monday, February 3rd. They set a "buy" rating and a $13.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.07.

Payoneer Global Trading Up 4.3 %

NASDAQ:PAYO traded up $0.34 during midday trading on Tuesday, reaching $8.34. The company had a trading volume of 5,102,962 shares, compared to its average volume of 3,257,861. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 2.88 and a beta of 0.93. The stock's fifty day simple moving average is $10.16 and its 200-day simple moving average is $9.28. Payoneer Global has a 12-month low of $4.22 and a 12-month high of $11.29.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its 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 analysts' expectations of $242.14 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. During the same quarter last year, the business posted $0.05 earnings per share. As a group, sell-side analysts expect that Payoneer Global will post 0.34 EPS for the current year.

Insider Activity

In related news, CFO Beatrice Ordonez sold 85,000 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $10.40, for a total value of $884,000.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Tsafi Goldman sold 96,350 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $10.07, for a total value of $970,244.50. Following the completion of the transaction, the insider now owns 741,748 shares in the company, valued at $7,469,402.36. This trade represents a 11.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 445,223 shares of company stock valued at $4,519,362. Insiders own 5.57% of the company's stock.

Hedge Funds Weigh In On Payoneer Global

Several institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in Payoneer Global by 21.2% in the 4th quarter. Blue Trust Inc. now owns 5,380 shares of the company's stock valued at $54,000 after acquiring an additional 940 shares during the period. Maryland State Retirement & Pension System increased its position in Payoneer Global by 1.2% during the 4th quarter. Maryland State Retirement & Pension System now owns 86,467 shares of the company's stock worth $868,000 after purchasing an additional 1,002 shares during the period. Fifth Third Bancorp increased its position in Payoneer Global by 29.3% during the 4th quarter. Fifth Third Bancorp now owns 4,488 shares of the company's stock worth $45,000 after purchasing an additional 1,016 shares during the period. Van ECK Associates Corp increased its position in Payoneer Global by 1.6% during the 3rd quarter. Van ECK Associates Corp now owns 84,209 shares of the company's stock worth $634,000 after purchasing an additional 1,306 shares during the period. Finally, State of Alaska Department of Revenue increased its position in Payoneer Global by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 145,923 shares of the company's stock worth $1,465,000 after purchasing an additional 1,498 shares during the period. Institutional investors and hedge funds 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.