Needham & Company LLC Cuts Payoneer Global (NASDAQ:PAYO) Price Target to $8.00

Payoneer Global (NASDAQ:PAYO) had its price objective trimmed by Needham & Company LLC from $14.00 to $8.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

PAYO has been the topic of a number of other reports. Citigroup boosted 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. The Goldman Sachs Group dropped their price target on Payoneer Global from $11.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their price objective on Payoneer Global from $10.00 to $8.00 and set a “market perform” rating on the stock in a research note on Monday, March 31st. Deutsche Bank Aktiengesellschaft initiated coverage on Payoneer Global in a research note on Monday, February 3rd. They issued a “buy” rating and a $13.00 target price for the company. Finally, Wolfe Research cut shares of Payoneer Global from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.36.

Payoneer Global Price Performance

Shares of Payoneer Global stock opened at $6.63 on Thursday. The company’s fifty day moving average price is $6.94 and its two-hundred day moving average price is $9.05. The firm has a market capitalization of $2.39 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 2.88 and a beta of 1.03. Payoneer Global has a 52-week low of $5.03 and a 52-week high of $11.29.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The business had revenue of $246.62 million for the quarter, compared to the consensus estimate of $244.52 million. During the same quarter in the prior year, the business earned $0.08 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. Analysts predict that Payoneer Global will post 0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Payoneer Global

Institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC acquired a new stake in shares of Payoneer Global in the 1st quarter valued at approximately $25,000. Quarry LP bought a new position in shares of Payoneer Global during the fourth quarter worth $29,000. Versant Capital Management Inc increased its position in shares of Payoneer Global by 420.6% in the 1st quarter. Versant Capital Management Inc now owns 5,034 shares of the company’s stock valued at $37,000 after buying an additional 4,067 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Payoneer Global by 405.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company’s stock valued at $38,000 after buying an additional 3,064 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Payoneer Global by 29.3% during the 4th quarter. Fifth Third Bancorp now owns 4,488 shares of the company’s stock worth $45,000 after buying an additional 1,016 shares during the period. 82.22% of the stock is owned by institutional investors and hedge funds.

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.