Needham analyst Mayank Tandon has maintained their bullish stance on PAYO stock, giving a Buy rating yesterday.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Mayank Tandon has given his Buy rating due to a combination of factors influencing Payoneer’s performance. The company’s first-quarter results surpassed expectations, largely driven by the increased adoption of its high-value products such as B2B services, cards, and checkout solutions. These offerings have contributed to robust take-rates, even though overall transaction volumes fell short of projections due to a challenging macroeconomic climate.
Despite the uncertainties posed by global trade tensions, particularly the impact of tariffs on revenue from China, Tandon maintains a positive outlook on Payoneer. The decision to uphold the Buy rating is supported by the company’s diverse revenue streams and the financial buffer provided by float income. However, due to the anticipated revenue headwinds, the price target has been adjusted to $8, reflecting a more cautious stance while still recognizing the company’s underlying strengths.
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue