Payoneer Global (NASDAQ:PAYO) Hits New 52-Week High – Should You Buy?

Shares of Payoneer Global Inc. (NASDAQ:PAYO) hit a new 52-week high during trading on Tuesday . The company traded as high as $10.90 and last traded at $10.83, with a volume of 2519021 shares. The stock had previously closed at $10.64.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Needham & Company LLC upped their target price on shares of Payoneer Global from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Citigroup upped their target price on shares of Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a research note on Monday, August 12th. Northland Securities upped their target price on shares of Payoneer Global from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, Cantor Fitzgerald upgraded shares of Payoneer Global to a “strong-buy” rating in a research note on Monday, August 12th. Six equities research 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 stock has an average rating of “Buy” and a consensus price target of $10.79.

Payoneer Global Stock Up 1.8 %

The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 30.40 and a beta of 0.82. The firm’s 50 day moving average is $8.41 and its two-hundred day moving average is $6.84.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data 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 firm had revenue of $248.30 million for the quarter, compared to analyst estimates of $225.44 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. Payoneer Global’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. On average, analysts anticipate that Payoneer Global Inc. will post 0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Scott H. Galit sold 150,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 1,809,674 shares in the company, valued at $12,794,395.18. This trade represents a 7.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $10.32, for a total transaction of $77,400,000.00. Following the completion of the transaction, the insider now owns 34,197,116 shares of the company’s stock, valued at $352,914,237.12. This trade represents a 17.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,658,000 shares of company stock worth $78,524,500. Insiders own 5.57% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its stake in Payoneer Global by 352.8% during the third quarter. Barclays PLC now owns 498,727 shares of the company’s stock valued at $3,755,000 after purchasing an additional 388,584 shares during the last quarter. Weiss Asset Management LP acquired a new stake in Payoneer Global during the third quarter valued at approximately $2,339,000. Hotchkis & Wiley Capital Management LLC acquired a new stake in Payoneer Global during the third quarter valued at approximately $3,982,000. Centiva Capital LP acquired a new stake in Payoneer Global during the third quarter valued at approximately $121,000. Finally, Azora Capital LP acquired a new stake in Payoneer Global during the third quarter valued at approximately $31,901,000. 82.22% of the stock is currently owned by 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.