Payoneer Global (NASDAQ:PAYO) Downgraded to Peer Perform Rating by Wolfe Research

Wolfe Research lowered shares of Payoneer Global (NASDAQ:PAYO) from an outperform rating to a peer perform rating in a research report released on Wednesday morning, MarketBeat reports.

Several other equities research analysts have also commented on PAYO. Keefe, Bruyette & Woods dropped their price target on shares of Payoneer Global from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note on Monday. Benchmark raised their target price on Payoneer Global from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group lifted their target price on 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 increased their price target on Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Northland Securities lifted their price objective on shares of Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.21.

Payoneer Global Stock Down 3.0 %

Shares of PAYO stock opened at $10.07 on Wednesday. The company has a market cap of $3.59 billion, a P/E ratio of 28.77 and a beta of 0.92. The business has a 50 day moving average of $10.33 and a two-hundred day moving average of $8.04. Payoneer Global has a 52 week low of $4.22 and a 52 week high of $11.29.

Payoneer Global (NASDAQ:PAYO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The business had revenue of $248.30 million during the quarter, compared to analyst estimates of $225.44 million. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 EPS. Analysts expect that Payoneer Global will post 0.35 EPS for the current fiscal year.

Insider Transactions at Payoneer Global

In other news, insider Crossover Managemen Technology sold 7,500,000 shares of Payoneer Global stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $10.32, for a total value of $77,400,000.00. Following the transaction, the insider now owns 34,197,116 shares of the company’s stock, valued at $352,914,237.12. The trade was a 17.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Tsafi Goldman sold 96,350 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $10.07, for a total transaction of $970,244.50. Following the sale, the insider now directly owns 741,748 shares of the company’s stock, valued at approximately $7,469,402.36. This represents a 11.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,918,725 shares of company stock valued at $81,647,314. Corporate insiders own 5.57% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

Several large investors have recently modified their holdings of PAYO. Victory Capital Management Inc. raised its position in shares of Payoneer Global by 17.1% during the second quarter. Victory Capital Management Inc. now owns 4,417,785 shares of the company’s stock worth $24,475,000 after purchasing an additional 645,887 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Payoneer Global by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,337,156 shares of the company’s stock worth $17,599,000 after purchasing an additional 67,255 shares in the last quarter. Quest Partners LLC acquired a new stake in Payoneer Global during the 3rd quarter worth about $415,000. Wedge Capital Management L L P NC purchased a new stake in Payoneer Global during the third quarter valued at about $1,509,000. Finally, FMR LLC boosted its holdings in shares of Payoneer Global by 17.2% in the third quarter. FMR LLC now owns 1,129,312 shares of the company’s stock worth $8,504,000 after buying an additional 165,913 shares during the period. 82.22% of the stock is 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.