Payoneer Global (NASDAQ:PAYO) Given Buy Rating at Benchmark

Payoneer Global (NASDAQ:PAYO)‘s stock had its “buy” rating reaffirmed by equities research analysts at Benchmark in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $9.00 price objective on the stock. Benchmark’s target price points to a potential upside of 37.51% from the company’s current price.

PAYO has been the topic of a number of other research reports. Needham & Company LLC lowered their price objective on shares of Payoneer Global from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Wall Street Zen raised shares of Payoneer Global from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings cut Payoneer Global from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Keefe, Bruyette & Woods dropped 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. Finally, Bank of America began coverage on Payoneer Global in a report on Wednesday, March 25th. They issued a “buy” rating and a $6.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Payoneer Global has an average rating of “Moderate Buy” and an average target price of $7.50.

Payoneer Global Stock Performance

Shares of NASDAQ:PAYO opened at $6.55 on Wednesday. Payoneer Global has a fifty-two week low of $4.08 and a fifty-two week high of $7.66. The business has a 50-day simple moving average of $5.02 and a two-hundred day simple moving average of $5.29. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 32.78, a price-to-earnings-growth ratio of 0.55 and a beta of 1.02.

Payoneer Global (NASDAQ:PAYO) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Payoneer Global had a net margin of 6.76% and a return on equity of 11.10%. The firm had revenue of $261.60 million for the quarter, compared to the consensus estimate of $255.12 million. During the same quarter last year, the firm posted $0.05 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, research analysts predict that Payoneer Global will post 0.27 earnings per share for the current year.

Institutional Trading of Payoneer Global

Several large investors have recently added to or reduced their stakes in the business. Leonteq Securities AG raised its position in Payoneer Global by 72.0% in the first quarter. Leonteq Securities AG now owns 6,496 shares of the company’s stock worth $31,000 after acquiring an additional 2,720 shares during the period. Osaic Holdings Inc. grew its position in shares of Payoneer Global by 246.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,636 shares of the company’s stock valued at $33,000 after acquiring an additional 3,298 shares during the period. Resonant Capital Advisors LLC purchased a new stake in shares of Payoneer Global in the 1st quarter worth $49,000. CWM LLC increased its stake in shares of Payoneer Global by 178.6% in the 4th quarter. CWM LLC now owns 9,384 shares of the company’s stock worth $53,000 after purchasing an additional 6,016 shares in the last quarter. Finally, State of Wyoming bought a new position in Payoneer Global in the 1st quarter worth $57,000. 82.22% of the stock is currently owned by institutional investors.

Trending Headlines about Payoneer Global

Here are the key news stories impacting Payoneer Global this week:

• Positive Sentiment: Reports of advanced acquisition talks with Nuvei have sparked takeover speculation and pushed investors to revalue Payoneer closer to a buyout price. Nuvei in Advanced Talks to Acquire Payoneer for US$2.7 Billion, Sources Say
• Positive Sentiment: The deal chatter was reinforced across multiple reports, increasing confidence that strategic interest in Payoneer is real and helping fuel the stock’s sharp move higher. Stock Market Today, June 9: Payoneer Global Surges on Reports of $2.7 Billion Nuvei Acquisition Offer
• Neutral Sentiment: Payoneer’s annual meeting results showed shareholders re-elected directors and reaffirmed auditor and executive pay, a routine governance update with limited immediate stock impact. Payoneer Shareholders Reaffirm Board, Auditor and Executive Pay
• Neutral Sentiment: Short interest data showed no meaningful new bearish signal, so it does not appear to be driving the move.

Payoneer Global Company Profile

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.