Payoneer Global (NASDAQ:PAYO) Price Target Cut to $7.00 by Analysts at Needham & Company LLC

Payoneer Global (NASDAQ:PAYOGet Free Report) had its target price reduced by equities researchers at Needham & Company LLC from $8.00 to $7.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 43.44% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on PAYO. Keefe, Bruyette & Woods cut their target price on shares of Payoneer Global from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Benchmark reissued a “buy” rating and issued a $7.00 target price on shares of Payoneer Global in a report on Tuesday, March 26th. Cantor Fitzgerald cut their target price on shares of Payoneer Global from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. The Goldman Sachs Group cut their target price on shares of Payoneer Global from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Finally, Citigroup dropped their price target on shares of Payoneer Global from $7.50 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $6.57.

View Our Latest Analysis on PAYO

Payoneer Global Stock Performance

Shares of PAYO stock opened at $4.88 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.09 and a current ratio of 1.09. Payoneer Global has a one year low of $4.02 and a one year high of $6.48. The company’s 50-day simple moving average is $4.87 and its 200-day simple moving average is $5.25. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 20.33 and a beta of 0.81.

Payoneer Global (NASDAQ:PAYOGet Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. Payoneer Global had a net margin of 11.23% and a return on equity of 14.80%. The business had revenue of $224.32 million for the quarter, compared to analysts’ expectations of $223.65 million. Equities analysts anticipate that Payoneer Global will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Payoneer Global

In other Payoneer Global news, Director Scott H. Galit sold 12,447 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $4.88, for a total value of $60,741.36. Following the sale, the director now owns 3,190,571 shares in the company, valued at $15,569,986.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Scott H. Galit sold 12,447 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $4.88, for a total transaction of $60,741.36. Following the transaction, the director now owns 3,190,571 shares in the company, valued at $15,569,986.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tsafi Goldman sold 61,464 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $5.43, for a total transaction of $333,749.52. Following the transaction, the insider now owns 870,832 shares in the company, valued at approximately $4,728,617.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 796,105 shares of company stock worth $3,744,909. 5.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PAYO. Susquehanna International Group LLP increased its stake in shares of Payoneer Global by 85,862.0% during the first quarter. Susquehanna International Group LLP now owns 18,819,651 shares of the company’s stock valued at $118,187,000 after acquiring an additional 18,797,758 shares during the period. Vanguard Group Inc. grew its position in Payoneer Global by 191.4% in the first quarter. Vanguard Group Inc. now owns 25,792,530 shares of the company’s stock worth $115,035,000 after buying an additional 16,940,356 shares during the last quarter. BlackRock Inc. acquired a new position in Payoneer Global in the third quarter worth approximately $86,560,000. Victory Capital Management Inc. grew its position in Payoneer Global by 1,272.2% in the fourth quarter. Victory Capital Management Inc. now owns 6,033,115 shares of the company’s stock worth $33,001,000 after buying an additional 5,593,435 shares during the last quarter. Finally, Invesco Ltd. grew its position in Payoneer Global by 19,806.3% in the first quarter. Invesco Ltd. now owns 3,775,619 shares of the company’s stock worth $16,839,000 after buying an additional 3,756,652 shares during the last quarter. Institutional investors and hedge funds own 82.22% of the company’s stock.

About Payoneer Global

(Get Free Report)

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.

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