Payoneer Global (NASDAQ:PAYO) Stock Rating Lowered by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods cut shares of Payoneer Global (NASDAQ:PAYO - Free Report) from an outperform rating to a market perform rating in a report published on Monday morning, Marketbeat Ratings reports. Keefe, Bruyette & Woods currently has $12.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. Northland Securities lifted their price objective on Payoneer Global from $13.00 to $14.00 and gave the company an "outperform" rating in a research note on Friday. Needham & Company LLC upped their price objective on shares of Payoneer Global from $10.00 to $14.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Cantor Fitzgerald upgraded Payoneer Global to a "strong-buy" rating in a research report on Monday, August 12th. Citigroup raised their price target on Payoneer Global from $7.00 to $8.50 and gave the stock a "buy" rating in a research note on Monday, August 12th. Finally, Benchmark raised their price target on Payoneer Global from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $11.36.

Payoneer Global Stock Performance

PAYO stock traded down $0.83 during trading on Monday, reaching $10.12. The company had a trading volume of 4,031,976 shares, compared to its average volume of 2,755,341. Payoneer Global has a twelve month low of $4.22 and a twelve month high of $11.29. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 31.29 and a beta of 0.90. The firm has a 50-day simple moving average of $9.35 and a 200-day simple moving average of $7.35.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.07. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. The firm had revenue of $248.30 million for the quarter, compared to analysts' expectations of $225.44 million. During the same quarter last year, the company earned $0.05 EPS. The firm's revenue for the quarter was up 19.4% compared to the same quarter last year. Sell-side analysts expect that Payoneer Global will post 0.32 earnings per share for the current year.

Insider Transactions at Payoneer Global

In other news, CAO Itai Perry sold 52,829 shares of the company's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.64, for a total value of $562,100.56. Following the completion of the sale, the chief accounting officer now directly owns 201,882 shares of the company's stock, valued at approximately $2,148,024.48. This represents a 20.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $10.32, for a total transaction of $77,400,000.00. Following the transaction, the insider now owns 34,197,116 shares in the company, valued at $352,914,237.12. This represents a 17.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,562,402 shares of company stock worth $78,043,152. 5.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Payoneer Global

Several hedge funds have recently modified their holdings of PAYO. Blue Trust Inc. boosted its position in shares of Payoneer Global by 135.2% during the 3rd quarter. Blue Trust Inc. now owns 4,440 shares of the company's stock valued at $33,000 after purchasing an additional 2,552 shares in the last quarter. Quarry LP acquired a new position in Payoneer Global in the second quarter worth approximately $29,000. GAMMA Investing LLC increased its holdings in shares of Payoneer Global by 438.5% in the third quarter. GAMMA Investing LLC now owns 5,816 shares of the company's stock valued at $44,000 after buying an additional 4,736 shares in the last quarter. FSC Wealth Advisors LLC acquired a new stake in shares of Payoneer Global during the 3rd quarter valued at $68,000. Finally, Sage Rhino Capital LLC bought a new stake in shares of Payoneer Global during the 2nd quarter worth $56,000. 82.22% of the stock is currently owned by institutional investors and hedge funds.

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.