Payoneer Global (NASDAQ:PAYO) Downgraded by Wolfe Research to "Peer Perform"

Wolfe Research downgraded shares of Payoneer Global (NASDAQ:PAYO - Free Report) from an outperform rating to a peer perform rating in a research report released on Wednesday, MarketBeat Ratings reports.

A number of other research firms have also weighed in on PAYO. Benchmark upped their price objective on Payoneer Global from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. The Goldman Sachs Group lifted their price objective on shares of Payoneer Global from $9.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods cut their target price on shares of Payoneer Global from $12.00 to $11.00 and set a "market perform" rating for the company in a research note on Monday. Needham & Company LLC lifted their price target on shares of Payoneer Global from $10.00 to $14.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Finally, Northland Securities increased their price objective on shares of Payoneer Global from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $11.21.

Payoneer Global Trading Down 3.0 %

NASDAQ PAYO traded down $0.31 on Wednesday, reaching $10.07. 3,666,739 shares of the stock were exchanged, compared to its average volume of 2,878,388. Payoneer Global has a one year low of $4.22 and a one year high of $11.29. The firm has a market capitalization of $3.59 billion, a PE ratio of 28.77 and a beta of 0.92. The company's 50-day simple moving average is $10.33 and its two-hundred day simple moving average is $8.04.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.04 by $0.07. The firm 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% on a year-over-year basis. During the same period last year, the firm earned $0.05 EPS. Sell-side analysts forecast that Payoneer Global will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Itai Perry sold 4,100 shares of the firm's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $8.00, for a total value of $32,800.00. Following the completion of the sale, the chief accounting officer now owns 228,738 shares in the company, valued at approximately $1,829,904. This trade represents a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tsafi Goldman sold 96,350 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $10.07, for a total transaction of $970,244.50. Following the transaction, the insider now owns 741,748 shares in the company, valued at $7,469,402.36. The trade was a 11.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,918,725 shares of company stock worth $81,647,314. Corporate insiders own 5.57% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PAYO. CIBC Asset Management Inc boosted its holdings in Payoneer Global by 17.3% during the 2nd quarter. CIBC Asset Management Inc now owns 21,096 shares of the company's stock valued at $117,000 after acquiring an additional 3,117 shares during the period. Rhumbline Advisers boosted its stake in shares of Payoneer Global by 2.7% during the second 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 period. Victory Capital Management Inc. grew its holdings in shares of Payoneer Global by 17.1% in 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 last quarter. Arizona State Retirement System increased its stake in Payoneer Global by 11.9% in the 2nd 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. Finally, American Century Companies Inc. lifted its holdings in Payoneer Global by 241.5% during the 2nd 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. Hedge funds and other institutional investors 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.