Citigroup Boosts Payoneer Global (NASDAQ:PAYO) Price Target to $16.50

Payoneer Global (NASDAQ:PAYO) had its target price increased by equities researchers at Citigroup from $14.50 to $16.50 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 103.10% from the stock’s current price.

Other research analysts also recently issued reports about the company. Benchmark raised their price objective on Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Wolfe Research lowered Payoneer Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Needham & Company LLC upped their price objective on Payoneer Global from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Payoneer Global in a report on Monday, February 3rd. They issued a “buy” rating and a $13.00 target price for the company. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Payoneer Global from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Friday. Two 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $13.07.

Payoneer Global Price Performance

Shares of PAYO traded down $0.23 during mid-day trading on Tuesday, reaching $8.12. 1,551,388 shares of the company’s stock traded hands, compared to its average volume of 3,143,885. The stock’s 50-day moving average is $10.24 and its two-hundred day moving average is $9.28. Payoneer Global has a 12 month low of $4.22 and a 12 month high of $11.29. The stock has a market cap of $2.90 billion, a P/E ratio of 23.16, a P/E/G ratio of 2.88 and a beta of 0.93.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $261.74 million during the quarter, compared to the consensus estimate of $242.14 million. Payoneer Global had a net margin of 13.82% and a return on equity of 17.78%. During the same period last year, the company earned $0.05 EPS. Research analysts predict that Payoneer Global will post 0.34 earnings per share for the current year.

Insider Transactions at Payoneer Global

In related news, CFO Beatrice Ordonez sold 85,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $10.40, for a total transaction of $884,000.00. Following the sale, the chief financial officer now directly owns 2,305,245 shares in the company, valued at approximately $23,974,548. This represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tsafi Goldman sold 263,873 shares of Payoneer Global stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $10.10, for a total transaction of $2,665,117.30. Following the completion of the transaction, the insider now owns 741,748 shares of the company’s stock, valued at $7,491,654.80. This represents a 26.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 445,223 shares of company stock worth $4,519,362 over the last ninety days. Company insiders own 5.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp increased its stake in Payoneer Global by 1.6% in the third quarter. Van ECK Associates Corp now owns 84,209 shares of the company’s stock valued at $634,000 after purchasing an additional 1,306 shares during the last quarter. Advisor Resource Council acquired a new stake in Payoneer Global during the 3rd quarter worth $105,000. Los Angeles Capital Management LLC acquired a new position in Payoneer Global in the third quarter valued at $210,000. Royce & Associates LP grew its holdings in shares of Payoneer Global by 49.3% during the third quarter. Royce & Associates LP now owns 234,010 shares of the company’s stock worth $1,762,000 after purchasing an additional 77,232 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Payoneer Global during the third quarter worth about $415,000. Hedge funds and other institutional investors own 82.22% of the company’s stock.

Payoneer Global Company Profile

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.