Needham & Company LLC Issues Positive Forecast for Payoneer Global (NASDAQ:PAYO) Stock Price

Payoneer Global (NASDAQ:PAYO - Free Report) had its price target boosted by Needham & Company LLC from $10.00 to $14.00 in a research note released on Wednesday, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Cantor Fitzgerald raised Payoneer Global to a "strong-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. Citigroup increased their target price on shares of Payoneer Global from $7.00 to $8.50 and gave the stock a "buy" rating in a report on Monday, August 12th. Northland Securities boosted their target price on shares of Payoneer Global from $9.00 to $10.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Finally, Benchmark lifted their target price on shares of Payoneer Global from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $10.79.

Payoneer Global Stock Up 0.5 %

Shares of PAYO traded up $0.05 on Wednesday, hitting $10.35. The company's stock had a trading volume of 8,946,228 shares, compared to its average volume of 2,681,350. The firm's fifty day moving average price is $7.82 and its 200-day moving average price is $6.49. Payoneer Global has a fifty-two week low of $4.22 and a fifty-two week high of $10.49. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 38.19 and a beta of 0.82.

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 for the quarter, beating the consensus estimate of $0.04 by $0.07. Payoneer Global had a net margin of 11.25% and a return on equity of 15.28%. The company had revenue of $248.30 million during the quarter, compared to analysts' expectations of $225.44 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. The business's quarterly revenue was up 19.4% compared to the same quarter last year. As a group, equities analysts predict that Payoneer Global will post 0.25 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP bought a new position in Payoneer Global during the second quarter valued at about $29,000. Blue Trust Inc. lifted its stake in Payoneer Global by 135.2% in the third quarter. Blue Trust Inc. now owns 4,440 shares of the company's stock worth $33,000 after purchasing an additional 2,552 shares during the last quarter. SageView Advisory Group LLC purchased a new position in Payoneer Global during the 1st quarter valued at about $39,000. GAMMA Investing LLC raised its position in Payoneer Global by 438.5% during the 3rd quarter. GAMMA Investing LLC now owns 5,816 shares of the company's stock valued at $44,000 after purchasing an additional 4,736 shares during the last quarter. Finally, Sage Rhino Capital LLC purchased a new stake in Payoneer Global in the second quarter worth $56,000. 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.