Payoneer Global (NASDAQ:PAYO) Hits New 12-Month High – Here’s Why

Payoneer Global Inc. (NASDAQ:PAYO) shares hit a new 52-week high on Monday . The company traded as high as $11.02 and last traded at $11.02, with a volume of 8977 shares trading hands. The stock had previously closed at $10.93.

Analyst Ratings Changes

PAYO has been the topic of a number of research reports. Northland Securities raised their price target on Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Benchmark raised their target price on Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Cantor Fitzgerald raised shares of Payoneer Global to a “strong-buy” rating in a research report on Monday, August 12th. Citigroup raised their price objective on shares of Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Payoneer Global from $9.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $10.79.

Payoneer Global Stock Up 1.0 %

The stock has a market capitalization of $3.94 billion, a PE ratio of 31.57 and a beta of 0.82. The stock’s 50 day moving average price is $8.76 and its 200-day moving average price is $7.03.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The business had revenue of $248.30 million during the quarter, compared to analyst estimates of $225.44 million. During the same quarter in the prior year, the business posted $0.05 EPS. Payoneer Global’s revenue for the quarter was up 19.4% compared to the same quarter last year. On average, analysts forecast that Payoneer Global Inc. will post 0.32 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Itai Perry sold 52,829 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.64, for a total transaction of $562,100.56. Following the completion of the transaction, the chief accounting officer now owns 201,882 shares in the company, valued at $2,148,024.48. This trade represents a 20.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $10.32, for a total value of $77,400,000.00. Following the completion of the sale, the insider now owns 34,197,116 shares in the company, valued at $352,914,237.12. This represents a 17.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,562,402 shares of company stock valued at $78,043,152. Corporate insiders own 5.57% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

Hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Payoneer Global by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,790,400 shares of the company’s stock worth $23,283,000 after buying an additional 178,842 shares during the last quarter. Janus Henderson Group PLC increased its stake in Payoneer Global by 131.6% during the first quarter. Janus Henderson Group PLC now owns 358,940 shares of the company’s stock worth $1,744,000 after acquiring an additional 203,943 shares during the last quarter. Tidal Investments LLC purchased a new stake in Payoneer Global during the first quarter valued at approximately $986,000. Insight Wealth Strategies LLC lifted its stake in shares of Payoneer Global by 1.8% in the 2nd quarter. Insight Wealth Strategies LLC now owns 363,091 shares of the company’s stock valued at $2,012,000 after purchasing an additional 6,425 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Payoneer Global by 993.8% in the 2nd quarter. SG Americas Securities LLC now owns 169,184 shares of the company’s stock worth $937,000 after purchasing an additional 153,716 shares during the period. Hedge funds and other institutional investors 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.