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

Payoneer Global (NASDAQ:PAYO) had its target price dropped by analysts at Needham & Company LLC from $14.00 to $8.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 20.66% from the company’s previous close.

Several other research analysts have also recently issued reports on PAYO. Wolfe Research cut Payoneer Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Keefe, Bruyette & Woods reduced their target price on Payoneer Global from $10.00 to $8.00 and set a “market perform” rating for the company in a report on Monday, March 31st. The Goldman Sachs Group dropped their price target on Payoneer Global from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Payoneer Global in a research note on Monday, February 3rd. They set a “buy” rating and a $13.00 price objective for the company. Finally, Citigroup raised their target price on shares of Payoneer Global from $14.50 to $16.50 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Two equities research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.36.

Payoneer Global Stock Performance

Shares of PAYO stock opened at $6.63 on Thursday. The stock has a market cap 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. The business’s fifty day moving average is $6.94 and its 200-day moving average is $9.05. Payoneer Global has a 1 year low of $5.03 and a 1 year high of $11.29.

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

Institutional Trading of Payoneer Global

Hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC acquired a new position in Payoneer Global in the 1st quarter valued at approximately $25,000. Quarry LP acquired a new position in shares of Payoneer Global in the fourth quarter worth $29,000. Versant Capital Management Inc raised its holdings in shares of Payoneer Global by 420.6% during the first quarter. Versant Capital Management Inc now owns 5,034 shares of the company’s stock worth $37,000 after acquiring an additional 4,067 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Payoneer Global by 405.8% during 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. Finally, Fifth Third Bancorp grew its stake 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 in the last quarter. 82.22% of the stock is owned by hedge funds and other 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.