Payoneer Global (NASDAQ:PAYO) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Payoneer Global (NASDAQ:PAYO) posted its quarterly earnings data on Tuesday. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07, Briefing.com reports. The business had revenue of $248.30 million during the quarter, compared to analysts’ expectations of $225.44 million. Payoneer Global had a return on equity of 15.28% and a net margin of 11.25%. The firm’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 EPS. Payoneer Global updated its FY 2024 guidance to EPS.

Payoneer Global Price Performance

Shares of PAYO stock opened at $10.68 on Friday. The stock’s fifty day simple moving average is $7.95 and its 200 day simple moving average is $6.55. Payoneer Global has a one year low of $4.22 and a one year high of $10.74. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 30.51 and a beta of 0.82.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PAYO shares. Cantor Fitzgerald upgraded Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. Keefe, Bruyette & Woods upped their price objective on shares of Payoneer Global from $9.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday. Northland Securities lifted their target price on Payoneer Global from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. The Goldman Sachs Group upped their price target on Payoneer Global from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Citigroup lifted their price objective on Payoneer Global from $7.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, August 12th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $10.79.

Insiders Place Their Bets

In other news, Director Scott H. Galit sold 150,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total value of $1,060,500.00. Following the sale, the director now owns 1,809,674 shares of the company’s stock, valued at approximately $12,794,395.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Payoneer Global news, Director Scott H. Galit sold 150,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $7.07, for a total transaction of $1,060,500.00. Following the sale, the director now directly owns 1,809,674 shares of the company’s stock, valued at approximately $12,794,395.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Itai Perry sold 3,900 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $8.00, for a total value of $31,200.00. Following the completion of the transaction, the chief accounting officer now directly owns 228,738 shares in the company, valued at $1,829,904. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 158,000 shares of company stock worth $1,124,500 over the last three months. 5.57% of the stock is currently owned by corporate insiders.

Payoneer Global Company Profile

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.