Payoneer Global (NASDAQ:PAYO) Reaches New 52-Week High at $7.64

Payoneer Global Inc. (NASDAQ:PAYO)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $7.64 and last traded at $7.55, with a volume of 1341231 shares. The stock had previously closed at $7.46.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PAYO shares. Northland Securities raised their target price on shares of Payoneer Global from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Keefe, Bruyette & Woods lifted their price objective on shares of Payoneer Global from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Cantor Fitzgerald upgraded Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Needham & Company LLC increased their target price on Payoneer Global from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Benchmark reissued a “buy” rating and issued a $9.00 price target on shares of Payoneer Global in a research report on Thursday, August 8th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Payoneer Global presently has a consensus rating of “Buy” and an average price target of $8.50.

Payoneer Global Trading Up 0.4 %

The stock has a 50-day moving average price of $6.44 and a two-hundred day moving average price of $5.67. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 24.87 and a beta of 0.85.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. The business had revenue of $239.50 million during the quarter, compared to the consensus estimate of $223.12 million. During the same quarter last year, the company earned $0.12 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. Research analysts predict that Payoneer Global Inc. will post 0.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Payoneer Global news, Director Scott H. Galit sold 150,000 shares of Payoneer Global stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the completion of the sale, the director now owns 1,809,674 shares of the company’s stock, valued at approximately $12,794,395.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Payoneer Global news, Director Scott H. Galit sold 390,000 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $5.44, for a total transaction of $2,121,600.00. Following the sale, the director now directly owns 2,122,421 shares of the company’s stock, valued at approximately $11,545,970.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott H. Galit sold 150,000 shares of Payoneer Global stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total value of $1,060,500.00. Following the transaction, the director now owns 1,809,674 shares of the company’s stock, valued at approximately $12,794,395.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,890,082 shares of company stock valued at $10,516,245. Insiders own 5.57% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

Several large investors have recently made changes to their positions in the company. Quarry LP purchased a new position in Payoneer Global in the second quarter valued at $29,000. SageView Advisory Group LLC purchased a new position in shares of Payoneer Global in the 1st quarter valued at about $39,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Payoneer Global by 27.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock worth $46,000 after purchasing an additional 2,074 shares during the period. Sage Rhino Capital LLC purchased a new position in Payoneer Global during the second quarter worth approximately $56,000. Finally, Blueshift Asset Management LLC acquired a new stake in Payoneer Global in the fourth quarter valued at approximately $56,000. 82.22% of the stock is currently owned by institutional investors and hedge funds.

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.