Keefe, Bruyette & Woods Lowers Payoneer Global (NASDAQ:PAYO) Price Target to $8.00

Payoneer Global (NASDAQ:PAYO) had its target price cut by equities research analysts at Keefe, Bruyette & Woods from $10.00 to $8.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 10.34% from the company’s previous close.

PAYO has been the subject of several other research reports. Northland Securities boosted their target price 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. Wolfe Research lowered shares of Payoneer Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Payoneer Global in a research note on Monday, February 3rd. They set a “buy” rating and a $13.00 price objective on the stock. Finally, Citigroup upped their target price on Payoneer Global from $14.50 to $16.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $12.79.

Payoneer Global Price Performance

NASDAQ PAYO opened at $7.25 on Monday. Payoneer Global has a 12 month low of $4.69 and a 12 month high of $11.29. The company’s fifty day moving average price is $9.21 and its two-hundred day moving average price is $9.33. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 2.88 and a beta of 0.97.

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

Insider Activity

In other Payoneer Global news, CFO Beatrice Ordonez sold 85,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $23,974,548. This trade represents a 3.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tsafi Goldman sold 96,350 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $10.07, for a total transaction of $970,244.50. Following the completion of 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. Corporate insiders own 5.57% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new stake in shares of Payoneer Global in the 3rd quarter worth $458,000. Charles Schwab Investment Management Inc. raised its holdings in shares of 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. The Manufacturers Life Insurance Company raised its holdings in shares of Payoneer Global by 1.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 165,996 shares of the company’s stock worth $1,250,000 after purchasing an additional 1,907 shares in the last quarter. FMR LLC lifted its stake in Payoneer Global by 17.2% during the third quarter. FMR LLC now owns 1,129,312 shares of the company’s stock valued at $8,504,000 after purchasing an additional 165,913 shares during the last quarter. Finally, Verition Fund Management LLC lifted its stake in Payoneer Global by 28.6% during the third quarter. Verition Fund Management LLC now owns 142,207 shares of the company’s stock valued at $1,071,000 after purchasing an additional 31,646 shares during the last quarter. Institutional investors own 82.22% of the company’s stock.

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.