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

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

Payoneer Global Stock Up 14.1 %

NASDAQ PAYO traded up $1.20 during trading on Tuesday, hitting $9.72. The stock had a trading volume of 3,770,909 shares, compared to its average volume of 2,607,613. The company has a market capitalization of $3.71 billion, a PE ratio of 35.41 and a beta of 0.82. The firm has a 50 day moving average price of $7.75 and a 200 day moving average price of $6.45. Payoneer Global has a twelve month low of $4.22 and a twelve month high of $9.99.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald raised shares of Payoneer Global to a “strong-buy” rating in a research note on Monday, August 12th. Needham & Company LLC boosted their price target on shares of Payoneer Global from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Citigroup lifted their price target on shares of Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods increased their price target on Payoneer Global from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, Benchmark boosted their price objective on shares of Payoneer Global from $9.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Payoneer Global has an average rating of “Buy” and an average price target of $8.93.

Insider Transactions at Payoneer Global

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

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.