Payoneer Global (NASDAQ:PAYO) Shares Gap Down – Time to Sell?

Payoneer Global Inc. (NASDAQ:PAYO) gapped down before the market opened on Monday . The stock had previously closed at $10.95, but opened at $10.46. Payoneer Global shares last traded at $10.29, with a volume of 874,343 shares trading hands.

Analyst Upgrades and Downgrades

PAYO has been the subject of a number of recent analyst reports. Benchmark raised their price target on shares of Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods downgraded Payoneer Global from an “outperform” rating to a “market perform” rating and set a $12.00 price target for the company. in a research note on Monday. Citigroup boosted their price objective on Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a report on Monday, August 12th. The Goldman Sachs Group increased their target price on Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Needham & Company LLC boosted their price target on Payoneer Global from $10.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $11.36.

Payoneer Global Price Performance

The company has a fifty day moving average price of $9.35 and a 200 day moving average price of $7.35. The company has a market capitalization of $3.61 billion, a P/E ratio of 31.29 and a beta of 0.90.

Payoneer Global (NASDAQ:PAYO) last issued its earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The firm had revenue of $248.30 million for the quarter, compared to analyst estimates of $225.44 million. During the same period last year, the company earned $0.05 earnings per share. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. On average, equities research analysts predict that Payoneer Global Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Activity at Payoneer Global

In other Payoneer Global news, CAO Itai Perry sold 3,900 shares of Payoneer Global stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $8.00, for a total transaction of $31,200.00. Following the sale, the chief accounting officer now owns 228,738 shares of the company’s stock, valued at $1,829,904. The trade was a 1.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Crossover Managemen Technology sold 7,500,000 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 34,197,116 shares of the company’s stock, valued at $352,914,237.12. This trade represents a 17.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,562,402 shares of company stock worth $78,043,152 in the last ninety days. 5.57% of the stock is owned by insiders.

Institutional Trading of Payoneer Global

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its holdings in Payoneer Global by 993.8% during the second 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 in the last quarter. Bank of New York Mellon Corp boosted its stake in Payoneer Global by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 1,971,622 shares of the company’s stock valued at $10,923,000 after buying an additional 33,063 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Payoneer Global by 7.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,534 shares of the company’s stock worth $385,000 after acquiring an additional 4,738 shares during the period. Sage Rhino Capital LLC bought a new stake in Payoneer Global in the second quarter worth about $56,000. Finally, Van ECK Associates Corp lifted its holdings in Payoneer Global by 4.3% in the 2nd quarter. Van ECK Associates Corp now owns 82,903 shares of the company’s stock valued at $459,000 after acquiring an additional 3,444 shares during the last quarter. 82.22% of the stock is currently 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.