The Goldman Sachs Group Lowers Payoneer Global (NASDAQ:PAYO) Price Target to $9.00

Payoneer Global (NASDAQ:PAYO) had its target price cut by research analysts at The Goldman Sachs Group from $11.00 to $9.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 19.52% from the company’s current price.

A number of other analysts have also issued reports on PAYO. Wolfe Research lowered Payoneer Global from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Citigroup boosted their price objective on Payoneer Global from $14.50 to $16.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. Keefe, Bruyette & Woods lowered their target price on Payoneer Global from $10.00 to $8.00 and set a “market perform” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft started coverage on shares of Payoneer Global in a research note on Monday, February 3rd. They set a “buy” rating and a $13.00 price target on the stock. Finally, Northland Securities increased their price target on shares of Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Payoneer Global presently has a consensus rating of “Moderate Buy” and an average target price of $12.36.

Payoneer Global Stock Performance

Shares of NASDAQ PAYO traded up $0.06 during mid-day trading on Wednesday, reaching $7.53. 753,102 shares of the company’s stock were exchanged, compared to its average volume of 2,877,281. The company’s 50-day moving average is $9.08 and its 200-day moving average is $9.33. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 2.88 and a beta of 0.97. Payoneer Global has a 52-week low of $4.69 and a 52-week high of $11.29.

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

Insider Buying and Selling

In related news, CFO Beatrice Ordonez sold 85,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $10.40, for a total value of $884,000.00. Following the transaction, the chief financial officer now owns 2,305,245 shares of the company’s stock, valued at $23,974,548. This represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Tsafi Goldman sold 96,350 shares of Payoneer Global stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $10.07, for a total value of $970,244.50. Following the sale, the insider now directly owns 741,748 shares of the company’s stock, valued at $7,469,402.36. This trade represents a 11.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.57% of the company’s stock.

Hedge Funds Weigh In On Payoneer Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Susquehanna Capital Management LLC lifted its position in shares of Payoneer Global by 290.3% during the 4th quarter. Susquehanna Capital Management LLC now owns 25,268,954 shares of the company’s stock worth $253,700,000 after buying an additional 18,794,047 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Payoneer Global by 200.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,470,347 shares of the company’s stock worth $34,842,000 after acquiring an additional 2,313,481 shares in the last quarter. Deutsche Bank AG boosted its stake in Payoneer Global by 252.8% in the fourth quarter. Deutsche Bank AG now owns 2,779,110 shares of the company’s stock valued at $27,902,000 after acquiring an additional 1,991,449 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Payoneer Global during the fourth quarter worth about $19,305,000. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of Payoneer Global by 1,065.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,081,589 shares of the company’s stock worth $20,899,000 after purchasing an additional 1,902,925 shares during the last quarter. 82.22% of the stock is 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.