Payoneer Global (NASDAQ:PAYO) Price Target Cut to $9.00 by Analysts at The Goldman Sachs Group

Payoneer Global (NASDAQ:PAYO) had its price objective decreased by The Goldman Sachs Group from $11.00 to $9.00 in a research note published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. 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 price objective on the stock. Keefe, Bruyette & Woods lowered their price objective on Payoneer Global from $10.00 to $8.00 and set a “market perform” rating for the company in a research note on Monday. Wolfe Research downgraded Payoneer Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Northland Securities raised their price target on Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, Citigroup upped their price target on shares of Payoneer Global from $14.50 to $16.50 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Payoneer Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.36.

Payoneer Global Stock Performance

PAYO stock opened at $7.55 on Wednesday. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 2.88 and a beta of 0.97. The business’s 50 day moving average price is $9.03 and its two-hundred day moving average price is $9.31. Payoneer Global has a fifty-two week low of $4.69 and a fifty-two week high of $11.29.

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

Insider Activity

In related news, CFO Beatrice Ordonez sold 85,000 shares of the 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 transaction, the chief financial officer now owns 2,305,245 shares in the company, valued at $23,974,548. This represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.57% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

A number of hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in Payoneer Global during the fourth quarter valued at $29,000. Smartleaf Asset Management LLC increased its position in shares of Payoneer Global by 405.8% during the 4th 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. Fifth Third Bancorp lifted its stake in shares of Payoneer Global by 29.3% in the 4th quarter. Fifth Third Bancorp now owns 4,488 shares of the company’s stock worth $45,000 after purchasing an additional 1,016 shares during the period. Blue Trust Inc. boosted its holdings in shares of Payoneer Global by 21.2% in the fourth quarter. Blue Trust Inc. now owns 5,380 shares of the company’s stock worth $54,000 after buying an additional 940 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Payoneer Global by 41.7% during the fourth quarter. GAMMA Investing LLC now owns 8,241 shares of the company’s stock valued at $83,000 after buying an additional 2,425 shares during the period. 82.22% of the stock is currently 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.