Payoneer Global (NASDAQ:PAYO) Issues Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Payoneer Global (NASDAQ:PAYO - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.07, Briefing.com reports. The company had revenue of $248.30 million during the quarter, compared to the consensus estimate of $225.44 million. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. The firm's revenue was up 19.4% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share. Payoneer Global updated its FY 2024 guidance to EPS.

Payoneer Global Stock Up 20.9 %

NASDAQ:PAYO traded up $1.78 on Tuesday, hitting $10.30. The stock had a trading volume of 13,573,342 shares, compared to its average volume of 2,653,400. Payoneer Global has a 52 week low of $4.22 and a 52 week high of $10.35. The business's fifty day moving average is $7.75 and its 200 day moving average is $6.45. The company has a market cap of $3.93 billion, a PE ratio of 38.15 and a beta of 0.82.

Insider Activity

In other Payoneer Global news, Director Scott H. Galit sold 150,000 shares of the company's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the transaction, the director now owns 1,809,674 shares in the company, valued at approximately $12,794,395.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Itai Perry sold 3,900 shares of the firm's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $8.00, for a total value of $31,200.00. Following the transaction, the chief accounting officer now owns 228,738 shares in the company, valued at $1,829,904. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott H. Galit sold 150,000 shares of the company's stock in a transaction 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 sale, the director now owns 1,809,674 shares of the company's stock, 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 sold a total of 158,000 shares of company stock worth $1,124,500 over the last quarter. 5.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on PAYO. Needham & Company LLC increased their price objective on shares of Payoneer Global from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Monday, October 7th. Citigroup lifted their price objective on Payoneer Global from $7.00 to $8.50 and gave the stock a "buy" rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods upped their target price on Payoneer Global from $7.00 to $8.00 and gave the company an "outperform" rating in a research report on Thursday, August 8th. Benchmark lifted their target price on Payoneer Global from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Finally, Northland Securities increased their price target on Payoneer Global from $9.00 to $10.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $8.93.

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.