Citigroup Issues Positive Forecast for Payoneer Global (NASDAQ:PAYO) Stock Price

Payoneer Global (NASDAQ:PAYO - Get Free Report) had its price objective raised by analysts at Citigroup from $8.50 to $13.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price would suggest a potential upside of 31.18% from the stock's previous close.

Other equities research analysts have also issued reports about the company. Needham & Company LLC boosted 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, November 6th. Keefe, Bruyette & Woods dropped their price target on Payoneer Global from $12.00 to $11.00 and set a "market perform" rating for the company in a research report on Monday, January 6th. The Goldman Sachs Group increased their price objective on Payoneer Global from $9.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Northland Securities lifted their target price on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Finally, Wolfe Research cut shares of Payoneer Global from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $11.86.

Payoneer Global Stock Performance

Shares of NASDAQ:PAYO remained flat at $9.91 during midday trading on Tuesday. The stock had a trading volume of 2,947,721 shares, compared to its average volume of 2,896,078. The company has a 50-day simple moving average of $10.40 and a two-hundred day simple moving average of $8.18. Payoneer Global has a 52-week low of $4.22 and a 52-week high of $11.29. The stock has a market cap of $3.53 billion, a P/E ratio of 28.32 and a beta of 0.92.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.07. The business had revenue of $248.30 million for the quarter, compared to the consensus estimate of $225.44 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The company's revenue was up 19.4% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. On average, sell-side analysts forecast that Payoneer Global will post 0.35 earnings per share for the current fiscal year.

Insider Transactions at Payoneer Global

In other Payoneer Global news, insider Crossover Managemen Technology sold 7,500,000 shares of the firm's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $10.32, for a total transaction of $77,400,000.00. Following the completion of the sale, the insider now owns 34,197,116 shares of the company's stock, valued at $352,914,237.12. This trade represents a 17.99 % 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, insider Tsafi Goldman sold 96,350 shares of Payoneer Global stock in a transaction on 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 sale, the insider now owns 741,748 shares in the company, valued at $7,469,402.36. This represents a 11.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,914,625 shares of company stock worth $81,614,514 in the last quarter. Company insiders own 5.57% of the company's stock.

Hedge Funds Weigh In On Payoneer Global

Hedge funds have recently modified their holdings of the business. Rhumbline Advisers increased its holdings in Payoneer Global by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 768,335 shares of the company's stock valued at $4,257,000 after purchasing an additional 20,297 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Payoneer Global by 11.9% during the second quarter. Arizona State Retirement System now owns 83,473 shares of the company's stock worth $462,000 after buying an additional 8,898 shares during the period. American Century Companies Inc. grew its stake in shares of Payoneer Global by 241.5% in the second quarter. American Century Companies Inc. now owns 1,643,744 shares of the company's stock valued at $9,106,000 after buying an additional 1,162,481 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Payoneer Global by 22.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,593,005 shares of the company's stock valued at $25,446,000 after buying an additional 849,680 shares during the period. Finally, Citizens Financial Group Inc. RI purchased a new position in Payoneer Global during the 2nd quarter valued at about $94,000. 82.22% of the stock is currently owned by hedge funds and other institutional investors.

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.