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Mon. Jul 22nd, 2024

Payoneer Global Inc. (NASDAQ:PAYO) Given the consensus recommendation of “Buy” by analysts

By Vaseline May30,2024
Payoneer Global Inc.  (NASDAQ:PAYO) Given the consensus recommendation of “Buy” by analysts


The shares of Payoneer Global Inc. (NASDAQ:PAYO – Get Free Report) have received a consensus recommendation of ‘Buy’ from the seven rating agencies currently rating the company, Marketbeat reports. Seven research analysts have rated the stock with a buy rating. The average twelve-month price target among brokers who have issued ratings on the stock in the last year is $7.00.

A number of brokers have recently released reports on PAYO. Needham & Company LLC lifted their price objective on Payoneer Global from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, May 9. Benchmark reiterated a “buy” rating and issued a $9.00 price target on shares of Payoneer Global in a research report on Tuesday, May 14. Citigroup lowered their price objective on shares of Payoneer Global from $7.50 to $6.00 and set a “buy” rating on the company in a research report on Thursday, March 21. Cantor Fitzgerald lowered their price target on shares of Payoneer Global from $8.00 to $7.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Finally, Keefe, Bruyette & Woods cut their price target on shares of Payoneer Global from $7.00 to $6.00 and set an “outperform” rating for the stock in a research report on Thursday, February 29.

Read our latest report on PAYO

Insider activity at Payoneer Global

In related news, Director Scott H. Galit sold 355,717 shares of the company’s stock in a transaction dated Tuesday, March 26. The shares were sold at an average price of $4.71, for a total transaction of $1,675,427.07. Following the transaction, the director now directly owns 3,127,981 shares of the company’s stock, valued at $14,732,790.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In other news, CEO Scott H. Galit sold 355,717 shares of Payoneer Global stock in a transaction on Tuesday, March 26. The stock sold at an average price of $4.71, for a total transaction of $1,675,427.07. Following the sale, the director now directly owns 3,127,981 shares in the company, valued at approximately $14,732,790.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission and available on the SEC’s website. Also, CAO Itai Perry sold 6,000 shares of the company’s stock in a transaction dated Tuesday, May 21. The shares sold at an average price of $6.00, for a total transaction of $36,000.00. Following the completion of the transaction, the chief accountant now directly owns 233,639 shares in the company, valued at $1,401,834. The explanation of this sale can be found here. In the last three months, insiders have sold 1,183,912 shares of the company’s stock, valued at $5,628,675. 5.57% of the shares are owned by insiders.

Institutional inflow and outflow

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Payoneer Global by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 28,579,172 shares of the company’s stock valued at $148,897,000 after acquiring an additional 787,509 shares during the period. Wellington Management Group LLP increased its stake in Payoneer Global by 68.4% in the fourth quarter. Wellington Management Group LLP now owns 7,784,978 shares of the company’s stock worth $40,014,000 after purchasing an additional 3,161,509 shares in the last quarter. Adage Capital Partners GP LLC increased its stake in Payoneer Global by 0.5% in the third quarter. Adage Capital Partners GP LLC now owns 6,317,478 shares of the company’s stock worth $38,663,000 after purchasing an additional 32,946 shares during the period. Victory Capital Management Inc. increased its stake in Payoneer Global by 6.0% in the fourth quarter. Victory Capital Management Inc. now owns 5,618,682 shares of the company’s stock, valued at $29,273,000, after purchasing an additional 320,108 shares in the last quarter. Finally, Price T raised Rowe Associates Inc. MD increased its position in Payoneer Global shares by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,790,400 shares of the company’s stock valued at $23,283,000 after purchasing an additional 178,842 shares during the period. Hedge funds and other institutional investors own 82.22% of the company’s shares.

Payoneer global price performance

Shares of NASDAQ:PAYO opened at $5.99 on Thursday. Payoneer Global has a one-year low of $4.02 and a one-year high of $6.48. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 19.97 and a beta of 0.77. The company has a 50-day simple moving average of $5.22 and a 200-day simple moving average of $5.09.

Payoneer Global (NASDAQ:PAYO – Get Free Report) last posted its quarterly earnings data on Wednesday, May 8. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $228.20 million for the quarter, compared to analyst estimates of $211.63 million. Payoneer Global had a return on equity of 17.56% and a net margin of 13.19%. Payoneer Global’s quarterly revenue increased 18.9% compared to the same quarter last year. During the same quarter of the previous year, the company posted earnings per share of $0.02. Research analysts predict that Payoneer Global will post earnings per share of 0.24 for the current fiscal year.

Payoneer Global Company Profile

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Payoneer Global Inc operates as a financial technology company. It operates a payments infrastructure platform that provides customers with a one-stop, global, multi-currency account to meet their accounts receivable and accounts payable needs. The company provides a range of services that include cross-border payments, physical and virtual MasterCard cards, working capital, risk management and other services.

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Analyst Recommendations for Payoneer Global (NASDAQ:PAYO)



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