Payoneer Global (NASDAQ:PAYO) Stock Price Down 2.1%

Shares of Payoneer Global Inc. (NASDAQ:PAYO) traded down 2.1% on Friday . The company traded as low as $7.29 and last traded at $7.32. 219,548 shares changed hands during trading, a decline of 92% from the average session volume of 2,665,971 shares. The stock had previously closed at $7.48.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $9.00 target price on shares of Payoneer Global in a report on Thursday, August 8th. The Goldman Sachs Group lifted their target price on Payoneer Global from $6.50 to $8.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Citigroup lifted their target price on Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a report on Monday, August 12th. Cantor Fitzgerald upgraded Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Needham & Company LLC lifted their price target on Payoneer Global from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $8.50.

Payoneer Global Stock Performance

The stock has a 50-day moving average price of $6.32 and a 200-day moving average price of $5.61. The stock has a market cap of $2.81 billion, a P/E ratio of 24.93 and a beta of 0.85.

Payoneer Global (NASDAQ:PAYO) last released its earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $239.50 million during the quarter, compared to the consensus estimate of $223.12 million. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. Payoneer Global’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. Sell-side analysts forecast that Payoneer Global Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Scott H. Galit sold 150,000 shares of the business’s 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 owns 1,809,674 shares in the company, valued at approximately $12,794,395.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Payoneer Global news, Director Scott H. Galit sold 150,000 shares of the business’s 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 owns 1,809,674 shares in the company, valued at $12,794,395.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott H. Galit sold 390,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $5.44, for a total value of $2,121,600.00. Following the completion of the sale, the director now owns 2,122,421 shares of the company’s stock, valued at approximately $11,545,970.24. The disclosure for this sale can be found here. Insiders sold 1,890,082 shares of company stock worth $10,516,245 in the last quarter. 5.57% of the stock is owned by insiders.

Institutional Trading of Payoneer Global

Several hedge funds and other institutional investors have recently bought and sold shares of PAYO. AXA S.A. lifted its position in Payoneer Global by 1,394.5% in the second quarter. AXA S.A. now owns 14,176,485 shares of the company’s stock valued at $78,538,000 after purchasing an additional 13,227,884 shares during the last quarter. Wellington Management Group LLP lifted its position in Payoneer Global by 68.4% in the fourth quarter. Wellington Management Group LLP now owns 7,784,978 shares of the company’s stock valued at $40,014,000 after purchasing an additional 3,161,509 shares during the last quarter. Legion Partners Asset Management LLC purchased a new position in shares of Payoneer Global during the second quarter valued at approximately $12,360,000. American Century Companies Inc. increased its stake in shares of Payoneer Global by 241.5% during the second 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 during the period. Finally, Shell Asset Management Co. purchased a new position in shares of Payoneer Global during the first quarter valued at approximately $5,360,000. 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.