Payoneer Global (NASDAQ:PAYO) Posts Earnings Results, Beats Expectations By $0.03 EPS

Payoneer Global (NASDAQ:PAYO) announced its quarterly earnings results on Wednesday. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03, Briefing.com reports. The company had revenue of $228.20 million for the quarter, compared to the consensus estimate of $211.63 million. Payoneer Global had a return on equity of 14.80% and a net margin of 11.23%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period last year, the firm earned $0.02 EPS. Payoneer Global updated its FY 2024 guidance to EPS.

Payoneer Global Stock Down 0.2 %

Shares of PAYO traded down $0.01 during mid-day trading on Thursday, hitting $5.87. 1,822,042 shares of the company’s stock were exchanged, compared to its average volume of 2,545,360. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 24.50 and a beta of 0.77. The stock’s 50-day moving average is $4.82 and its 200-day moving average is $5.07. Payoneer Global has a fifty-two week low of $4.02 and a fifty-two week high of $6.48.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Cantor Fitzgerald decreased their target price on shares of Payoneer Global from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Friday, March 1st. Keefe, Bruyette & Woods lowered their price objective on Payoneer Global from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Needham & Company LLC increased their price objective on shares of Payoneer Global from $7.00 to $8.00 and gave the company a “buy” rating in a report on Thursday. Citigroup cut their price target on Payoneer Global from $7.50 to $6.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Finally, Benchmark restated a “buy” rating and issued a $7.00 target price on shares of Payoneer Global in a report on Tuesday, March 26th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Payoneer Global currently has an average rating of “Buy” and a consensus price target of $6.71.

Insiders Place Their Bets

In related news, Director Scott H. Galit sold 12,221 shares of Payoneer Global stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $5.23, for a total value of $63,915.83. Following the completion of the transaction, the director now directly owns 2,451,171 shares in the company, valued at $12,819,624.33. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Scott H. Galit sold 191,283 shares of Payoneer Global stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $4.85, for a total value of $927,722.55. Following the transaction, the director now directly owns 2,476,139 shares of the company’s stock, valued at approximately $12,009,274.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott H. Galit sold 12,221 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $5.23, for a total transaction of $63,915.83. Following the sale, the director now owns 2,451,171 shares of the company’s stock, valued at approximately $12,819,624.33. The disclosure for this sale can be found here. Insiders have sold a total of 1,228,282 shares of company stock worth $5,849,600 in the last ninety days. 5.57% of the stock is owned by corporate insiders.

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.