Needham Initiates Coverage On Payoneer Global With Buy Rating, Sees 33% Upside

  • Needham analyst Mayank Tandon initiated coverage on Payoneer Global PAYO with a Buy rating and a $13 price target implying a 32.65% upside. 
  • Tandon is optimistic about the company's diverse cross-border payments product suite, including physical/virtual card issuance, merchant services, tax, compliance, and FX solutions. 
  • Payoneer Global is a diverse cross-border payments provider operating in a market ripe for disruption and significant growth as online marketplaces gain popularity, Tandon added.
  • Price action: PAYO shares traded higher by 2.04% at $10 in the market session on the last check Thursday.

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