The Goldman Sachs Group Issues Pessimistic Forecast for Payoneer Global (NASDAQ:PAYO) Stock Price

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

Other analysts also recently issued reports about the stock. Wolfe Research downgraded shares of Payoneer Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Citigroup raised their target price on Payoneer Global from $14.50 to $16.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Northland Securities upped their price target on Payoneer Global from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Keefe, Bruyette & Woods dropped their price objective on Payoneer Global from $10.00 to $8.00 and set a “market perform” rating on the stock in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft started coverage on Payoneer Global in a research report on Monday, February 3rd. They issued a “buy” rating and a $13.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.36.

Payoneer Global Price Performance

NASDAQ:PAYO traded up $0.06 during mid-day trading on Wednesday, hitting $7.53. The company’s stock had a trading volume of 753,102 shares, compared to its average volume of 2,877,281. The business’s fifty day moving average is $9.08 and its two-hundred day moving average is $9.33. The stock has a market cap 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 1 year low of $4.69 and a 1 year high of $11.29.

Payoneer Global (NASDAQ:PAYO) last issued its earnings results on Thursday, February 27th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $261.74 million during 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 quarter in the previous year, the company earned $0.05 EPS. Analysts anticipate that Payoneer Global will post 0.34 EPS for the current fiscal year.

Insider Activity

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

Institutional Trading of Payoneer Global

A number of hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System grew its position in shares of Payoneer Global by 2.3% in the fourth quarter. California State Teachers Retirement System now owns 284,558 shares of the company’s stock valued at $2,857,000 after purchasing an additional 6,350 shares in the last quarter. Forum Financial Management LP acquired a new stake in shares of Payoneer Global in the 4th quarter worth $122,000. Neo Ivy Capital Management purchased a new position in shares of Payoneer Global during the 4th quarter worth $1,543,000. Castleark Management LLC purchased a new position in shares of Payoneer Global during the 4th quarter worth $6,067,000. Finally, PharVision Advisers LLC purchased a new stake in shares of Payoneer Global in the fourth quarter valued at about $125,000. Institutional investors and hedge funds 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.