Keefe, Bruyette & Woods Cuts Payoneer Global (NASDAQ:PAYO) Price Target to $8.00

Payoneer Global (NASDAQ:PAYO) had its target price reduced by Keefe, Bruyette & Woods from $10.00 to $8.00 in a research report released on Monday,Benzinga reports. They currently have a market perform rating on the stock.

A number of other brokerages have also recently weighed in on PAYO. Wolfe Research cut Payoneer Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Citigroup increased their price target on shares of Payoneer Global from $14.50 to $16.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft started coverage on shares of Payoneer Global in a report on Monday, February 3rd. They issued a “buy” rating and a $13.00 price target on the stock. Finally, Northland Securities boosted their price objective on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Payoneer Global has an average rating of “Moderate Buy” and an average price target of $12.79.

Payoneer Global Price Performance

Shares of Payoneer Global stock opened at $7.31 on Monday. Payoneer Global has a 1 year low of $4.69 and a 1 year high of $11.29. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 2.88 and a beta of 0.97. The firm’s 50-day moving average is $9.14 and its two-hundred day moving average is $9.32.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $261.74 million for the quarter, compared to the consensus estimate of $242.14 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. During the same quarter in the prior year, the business posted $0.05 earnings per share. On average, equities analysts expect that Payoneer Global will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Tsafi Goldman sold 96,350 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $10.07, for a total value of $970,244.50. Following the transaction, the insider now directly owns 741,748 shares of the company’s stock, valued at approximately $7,469,402.36. This represents a 11.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Beatrice Ordonez sold 85,000 shares of Payoneer Global stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $10.40, for a total value of $884,000.00. Following the sale, the chief financial officer now directly owns 2,305,245 shares of the company’s stock, valued at $23,974,548. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. 5.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On Payoneer Global

Several hedge funds and other institutional investors have recently bought and sold shares of PAYO. Quarry LP purchased a new stake in shares of Payoneer Global in the 4th quarter valued at $29,000. Smartleaf Asset Management LLC boosted its holdings in Payoneer Global by 405.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company’s stock valued at $38,000 after purchasing an additional 3,064 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Payoneer Global by 29.3% in the fourth quarter. Fifth Third Bancorp now owns 4,488 shares of the company’s stock valued at $45,000 after purchasing an additional 1,016 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Payoneer Global by 21.2% during the 4th quarter. Blue Trust Inc. now owns 5,380 shares of the company’s stock valued at $54,000 after buying an additional 940 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Payoneer Global by 41.7% in the 4th quarter. GAMMA Investing LLC now owns 8,241 shares of the company’s stock valued at $83,000 after buying an additional 2,425 shares during the period. Institutional investors and hedge funds own 82.22% of the company’s stock.

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.