Payoneer Global (NASDAQ:PAYO) Shares Gap Down - What's Next?

Payoneer Global Inc. (NASDAQ:PAYO - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $10.07, but opened at $9.61. Payoneer Global shares last traded at $9.94, with a volume of 468,965 shares changing hands.

Analyst Ratings Changes

PAYO has been the subject of several recent research reports. Keefe, Bruyette & Woods lowered shares of Payoneer Global from an "outperform" rating to a "market perform" rating and set a $12.00 price target for the company. in a report on Monday, December 9th. The Goldman Sachs Group boosted their price objective on shares of Payoneer Global from $9.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Benchmark increased their target price on Payoneer Global from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Northland Securities boosted their price target on Payoneer Global from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Finally, Needham & Company LLC raised their price objective on Payoneer Global from $10.00 to $14.00 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $11.36.

Payoneer Global Trading Up 0.5 %

The stock has a 50-day moving average price of $9.81 and a two-hundred day moving average price of $7.59. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 28.92 and a beta of 0.90.

Payoneer Global (NASDAQ:PAYO - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. The business 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 17.78% and a net margin of 13.82%. The company's quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the company earned $0.05 earnings per share. Research analysts predict that Payoneer Global Inc. will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Payoneer Global news, insider Tsafi Goldman sold 263,873 shares of the company's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $10.10, for a total value of $2,665,117.30. Following the sale, the insider now directly owns 741,748 shares of the company's stock, valued at approximately $7,491,654.80. This represents a 26.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Itai Perry sold 4,100 shares of Payoneer Global 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 transaction, the chief accounting officer now owns 228,738 shares of the company's stock, valued at $1,829,904. The trade was a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,826,275 shares of company stock worth $80,708,269 in the last 90 days. Insiders own 5.57% of the company's stock.

Institutional Trading of Payoneer Global

A number of hedge funds have recently modified their holdings of PAYO. Van ECK Associates Corp raised its position in shares of Payoneer Global by 1.6% in the third quarter. Van ECK Associates Corp now owns 84,209 shares of the company's stock worth $634,000 after acquiring an additional 1,306 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Payoneer Global by 1.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 165,996 shares of the company's stock valued at $1,250,000 after purchasing an additional 1,907 shares in the last quarter. Xponance Inc. raised its holdings in Payoneer Global by 12.1% in the 2nd quarter. Xponance Inc. now owns 17,928 shares of the company's stock worth $99,000 after purchasing an additional 1,942 shares during the period. Y.D. More Investments Ltd grew its holdings in Payoneer Global by 11.7% in the second quarter. Y.D. More Investments Ltd now owns 22,142 shares of the company's stock valued at $122,000 after purchasing an additional 2,328 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Payoneer Global by 135.2% in the third quarter. Blue Trust Inc. now owns 4,440 shares of the company's stock valued at $33,000 after buying an additional 2,552 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.