Payoneer Global (NASDAQ:PAYO) Earns Buy Rating from Analysts at Citigroup

Citigroup started coverage on shares of Payoneer Global (NASDAQ:PAYO) in a research note issued to investors on Friday, PriceTargets.com reports. The firm issued a buy rating and a $12.50 target price on the stock.

Several other research analysts have also recently issued reports on PAYO. Zacks Investment Research cut shares of Payoneer Global from a hold rating to a sell rating in a report on Tuesday, August 17th. Needham & Company LLC began coverage on shares of Payoneer Global in a report on Thursday, July 22nd. They issued a buy rating and a $13.00 price objective for the company. The Goldman Sachs Group began coverage on shares of Payoneer Global in a report on Friday, July 23rd. They issued a neutral rating and a $11.50 price objective for the company. Cantor Fitzgerald assumed coverage on shares of Payoneer Global in a report on Wednesday, July 28th. They issued an overweight rating and a $13.00 price objective for the company. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Payoneer Global in a report on Wednesday, July 21st. They set an outperform rating and a $14.00 target price for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Buy and an average price target of $12.80.

NASDAQ PAYO opened at $9.60 on Friday. Payoneer Global has a 52 week low of $8.64 and a 52 week high of $11.20. The stock has a 50-day moving average price of $9.76.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings data on Wednesday, August 11th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.74). The firm had revenue of $110.93 million for the quarter, compared to analyst estimates of $102.94 million. On average, sell-side analysts forecast that Payoneer Global will post -0.58 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. Marshall Wace North America L.P. bought a new stake in Payoneer Global during the second quarter worth approximately $236,000. Morgan Stanley purchased a new stake in shares of Payoneer Global in the 2nd quarter valued at approximately $1,254,000. Walleye Capital LLC purchased a new stake in shares of Payoneer Global in the 2nd quarter valued at approximately $798,000. Walleye Trading LLC purchased a new stake in shares of Payoneer Global in the 2nd quarter valued at approximately $266,000. Finally, XN Exponent Advisors LLC purchased a new stake in shares of Payoneer Global in the 2nd quarter valued at approximately $10,370,000. Hedge funds and other institutional investors own 45.29% of the company’s stock.

About Payoneer Global

Payoneer Inc operates a cross-border payment and commerce-enabling platform that facilitates digital businesses, online sellers, and freelancers worldwide to receive and manage their international payments. The company delivers a suite of services that includes cross-border payments, working capital, tax solutions, merchant services, and risk management.

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Analyst Recommendations for Payoneer Global (NASDAQ:PAYO)

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