Payoneer Global (NASDAQ:PAYO) Price Target Cut to $7.00 by Analysts at Benchmark

Payoneer Global (NASDAQ:PAYO) had its price objective dropped by equities research analysts at Benchmark from $10.00 to $7.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price objective indicates a potential upside of 44.33% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC cut their price target on shares of Payoneer Global from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Wall Street Zen upgraded Payoneer Global from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Payoneer Global in a research note on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods decreased their price target on Payoneer Global from $7.50 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Payoneer Global has a consensus rating of “Moderate Buy” and an average price target of $8.00.

Payoneer Global Price Performance

Shares of NASDAQ PAYO opened at $4.85 on Friday. The stock has a fifty day moving average price of $5.53 and a 200 day moving average price of $5.89. Payoneer Global has a 1-year low of $4.08 and a 1-year high of $8.27. The company has a market cap of $1.73 billion, a PE ratio of 25.53, a P/E/G ratio of 0.58 and a beta of 1.09.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Payoneer Global had a return on equity of 10.89% and a net margin of 6.95%.The firm had revenue of $274.69 million for the quarter, compared to analysts’ expectations of $282.79 million. During the same quarter in the previous year, the company posted $0.05 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Analysts anticipate that Payoneer Global will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of Payoneer Global

Large investors have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of Payoneer Global by 299.7% during the 1st quarter. Royal Bank of Canada now owns 158,997 shares of the company’s stock worth $1,162,000 after buying an additional 119,219 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Payoneer Global by 8.8% in the first quarter. AQR Capital Management LLC now owns 291,908 shares of the company’s stock valued at $2,134,000 after purchasing an additional 23,533 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Payoneer Global in the first quarter valued at approximately $172,000. United Services Automobile Association purchased a new position in shares of Payoneer Global during the 1st quarter worth approximately $126,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Payoneer Global by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 757,827 shares of the company’s stock valued at $5,540,000 after buying an additional 41,970 shares in the last quarter. Institutional investors and hedge funds own 82.22% of the company’s stock.

About Payoneer Global

Payoneer Global (NASDAQ: PAYO) operates a digital payments platform that enables businesses, marketplaces and professionals to send and receive cross-border payments. The company’s core offerings include multi-currency receiving accounts, mass payout services and working capital solutions. Through its platform, Payoneer facilitates global transactions by connecting payors and payees across a network of local bank transfers, card payouts and digital wallets, supporting the seamless movement of funds in over 150 currencies.

Founded in 2005, Payoneer has grown from a small fintech venture into a widely adopted payments infrastructure provider that serves clients in more than 200 countries and territories.