Brokerages Set Payoneer Global Inc. (NASDAQ:PAYO) Target Price at $9.00

Shares of Payoneer Global Inc. (NASDAQ:PAYO) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $9.00.

Several equities research analysts have commented on the company. Benchmark dropped their price target on Payoneer Global from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, December 23rd. Wall Street Zen raised shares of Payoneer Global from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Payoneer Global in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group set a $7.00 price objective on shares of Payoneer Global in a research report on Wednesday, November 5th.

Payoneer Global Stock Up 0.2%

Shares of PAYO opened at $5.39 on Friday. Payoneer Global has a fifty-two week low of $4.91 and a fifty-two week high of $10.75. The company’s fifty day moving average is $5.75 and its two-hundred day moving average is $6.04. The firm has a market cap of $1.92 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 5.18 and a beta of 1.04.

Institutional Inflows and Outflows

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

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.