Payoneer Global (NASDAQ:PAYO) Shares Gap Up to $5.22

Payoneer Global Inc. (NASDAQ:PAYO)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $5.22, but opened at $5.72. Payoneer Global shares last traded at $5.64, with a volume of 1,491,610 shares changing hands.

Wall Street Analyst Weigh In

PAYO has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of Payoneer Global from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Benchmark reissued a “buy” rating and issued a $7.00 price objective on shares of Payoneer Global in a research note on Tuesday, March 26th. Citigroup cut their price objective on Payoneer Global from $7.50 to $6.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Needham & Company LLC lowered their target price on Payoneer Global from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, April 1st. Finally, The Goldman Sachs Group cut their price target on shares of Payoneer Global from $7.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, January 11th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Payoneer Global has a consensus rating of “Buy” and an average price target of $6.57.

Payoneer Global Stock Up 13.0 %

The business’s 50 day simple moving average is $4.79 and its 200 day simple moving average is $5.06. The company has a market capitalization of $2.18 billion, a PE ratio of 23.71 and a beta of 0.77. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.03.

Payoneer Global (NASDAQ:PAYO) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. Payoneer Global had a net margin of 11.23% and a return on equity of 14.80%. The business had revenue of $224.32 million during the quarter, compared to the consensus estimate of $223.65 million. As a group, analysts forecast that Payoneer Global Inc. will post 0.2 EPS for the current year.

Insider Transactions at Payoneer Global

In other news, insider Tsafi Goldman sold 61,464 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $5.43, for a total value of $333,749.52. Following the transaction, the insider now owns 870,832 shares in the company, valued at approximately $4,728,617.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Tsafi Goldman sold 61,464 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $5.43, for a total transaction of $333,749.52. Following the transaction, the insider now directly owns 870,832 shares in the company, valued at approximately $4,728,617.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Scott H. Galit sold 16,697 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $5.39, for a total transaction of $89,996.83. Following the completion of the transaction, the director now directly owns 3,156,731 shares in the company, valued at $17,014,780.09. The disclosure for this sale can be found here. Insiders sold a total of 1,231,424 shares of company stock valued at $5,865,310 over the last quarter. Company insiders own 5.57% of the company’s stock.

Institutional Investors Weigh In On Payoneer Global

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Payoneer Global by 4.4% in the third quarter. Vanguard Group Inc. now owns 27,791,663 shares of the company’s stock valued at $170,085,000 after acquiring an additional 1,166,894 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Payoneer Global by 23.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,075,139 shares of the company’s stock worth $12,700,000 after purchasing an additional 399,873 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of Payoneer Global during the 3rd quarter valued at about $723,000. Principal Financial Group Inc. raised its position in Payoneer Global by 20.4% in the third quarter. Principal Financial Group Inc. now owns 1,500,980 shares of the company’s stock worth $9,186,000 after purchasing an additional 253,833 shares in the last quarter. Finally, Capula Management Ltd bought a new position in Payoneer Global during the third quarter worth about $1,083,000. 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.