Strong Growth Potential and Strategic Expansion Drive Buy Rating for Payoneer

William Blair analyst Christopher Kennedy has maintained their bullish stance on PAYO stock, giving a Buy rating on May 22.

Christopher Kennedy has given his Buy rating due to a combination of factors that highlight Payoneer’s strong market position and growth potential. Despite the challenges posed by the evolving tariff situation, Payoneer’s internal execution remains robust, and its competitive stance is well-maintained. The company has demonstrated significant growth, with EBITDA increasing from $28 million in 2021 to $271 million in 2024, yet its shares are trading below their debut price, presenting a potential value opportunity.
Payoneer’s strategic focus on extending its business beyond core marketplaces and into higher-yielding accounts payable solutions is another reason for the positive outlook. The management’s efforts to capture a larger share of the $850 billion B2B services and $150 billion direct-to-consumer markets, alongside their investment in technology and focus on high-value customers, are expected to drive future growth. Additionally, Payoneer’s strong global brand and low customer acquisition costs further support its ability to sustain profitability and leverage cross-sales opportunities.

In another report released on May 22, Citi also maintained a Buy rating on the stock with a $10.00 price target.