Payoneer Global (NASDAQ:PAYO) Reaches New 12-Month High - Here's What Happened

Shares of Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $8.59 and last traded at $8.59, with a volume of 399048 shares changing hands. The stock had previously closed at $8.47.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods raised their target price on Payoneer Global from $7.00 to $8.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. Cantor Fitzgerald raised Payoneer Global to a "strong-buy" rating in a report on Monday, August 12th. Benchmark raised their price objective on Payoneer Global from $9.00 to $10.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Citigroup raised their price objective on Payoneer Global from $7.00 to $8.50 and gave the company a "buy" rating in a report on Monday, August 12th. Finally, Needham & Company LLC raised their price objective on Payoneer Global from $9.00 to $10.00 and gave the company a "buy" rating in a report on Monday, October 7th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $8.93.

Payoneer Global Stock Performance

The business has a 50 day simple moving average of $7.63 and a 200-day simple moving average of $6.35. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 28.50 and a beta of 0.85.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.03. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. The firm had revenue of $239.50 million for the quarter, compared to the consensus estimate of $223.12 million. During the same quarter in the previous year, the business earned $0.12 EPS. The company's revenue was up 15.9% compared to the same quarter last year. As a group, research analysts anticipate that Payoneer Global Inc. will post 0.25 earnings per share for the current year.

Insider Transactions at Payoneer Global

In other news, Director Scott H. Galit sold 150,000 shares of the business's stock in a transaction that occurred on 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Itai Perry sold 4,100 shares of Payoneer Global stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $8.00, for a total value of $32,800.00. Following the sale, the chief accounting officer now owns 228,738 shares of the company's stock, valued at approximately $1,829,904. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Scott H. Galit sold 150,000 shares of Payoneer Global stock in a transaction that occurred 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 completion of the sale, the director now directly owns 1,809,674 shares in the company, valued at $12,794,395.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 158,000 shares of company stock worth $1,124,500 in the last 90 days. Insiders own 5.57% of the company's stock.

Institutional Investors Weigh In On Payoneer Global

A number of hedge funds have recently modified their holdings of PAYO. Vanguard Group Inc. raised its holdings in Payoneer Global by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 28,579,172 shares of the company's stock valued at $148,897,000 after acquiring an additional 787,509 shares during the period. Principal Financial Group Inc. raised its holdings in Payoneer Global by 4.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,579,996 shares of the company's stock valued at $7,679,000 after acquiring an additional 64,126 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Payoneer Global by 6.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 563,060 shares of the company's stock valued at $2,736,000 after acquiring an additional 33,491 shares during the period. Capstone Investment Advisors LLC bought a new stake in Payoneer Global during the 1st quarter valued at $313,000. Finally, Texas Permanent School Fund Corp raised its holdings in Payoneer Global by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 227,988 shares of the company's stock valued at $1,108,000 after acquiring an additional 2,958 shares during the period. 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.