Payoneer Global price target lowered to $7 from $10 at Benchmark

Benchmark lowered the firm’s price target on Payoneer Global (PAYO) to $7 from $10 and keeps a Buy rating on the shares. Investors’ focus on declining interest income on funds its customers hold on its platform has overshadowed the company’s strengthening operating fundamentals and various strategic initiatives, notes the analyst, who points out that Payoneer has seen its stock price “languish near multi-year lows” in the aftermath of its Q4 report despite growing steadily, generating substantial cash flow, and continuing to expand its role in the global payments ecosystem.