Payoneer Global (NASDAQ:PAYO) Releases Earnings Results, Beats Estimates By $0.03 EPS

Payoneer Global (NASDAQ:PAYO) posted its quarterly earnings data on Wednesday. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03, Briefing.com reports. Payoneer Global had a return on equity of 14.80% and a net margin of 11.23%. The firm had revenue of $228.20 million for the quarter, compared to the consensus estimate of $211.63 million. During the same quarter in the previous year, the company earned $0.02 EPS. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. Payoneer Global updated its FY 2024 guidance to EPS.

Payoneer Global Stock Performance

Shares of PAYO stock traded down $0.01 during trading on Thursday, reaching $5.87. The company had a trading volume of 2,646,641 shares, compared to its average volume of 2,551,271. The firm’s 50 day simple moving average is $4.82 and its two-hundred day simple moving average is $5.07. Payoneer Global has a one year low of $4.02 and a one year high of $6.48. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $2.16 billion, a PE ratio of 24.50 and a beta of 0.77.

Insiders Place Their Bets

In other news, insider Tsafi Goldman sold 61,464 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $5.43, for a total value of $333,749.52. Following the completion of the sale, the insider now directly owns 870,832 shares in the company, valued at $4,728,617.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Tsafi Goldman sold 61,464 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $5.43, for a total transaction of $333,749.52. Following the completion of the transaction, the insider now owns 870,832 shares of the company’s stock, valued at approximately $4,728,617.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott H. Galit sold 12,221 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $5.23, for a total value of $63,915.83. Following the completion of the sale, the director now directly owns 2,451,171 shares in the company, valued at approximately $12,819,624.33. The disclosure for this sale can be found here. Insiders sold 1,228,282 shares of company stock valued at $5,849,600 over the last 90 days. 5.57% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PAYO shares. Citigroup decreased their price objective on shares of Payoneer Global from $7.50 to $6.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. The Goldman Sachs Group reduced their price objective on Payoneer Global from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, January 11th. Cantor Fitzgerald decreased their price target on shares of Payoneer Global from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Friday, March 1st. Needham & Company LLC lifted their target price on shares of Payoneer Global from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Payoneer Global from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $6.71.

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.