Payoneer Global Set To Join S&P SmallCap 600

Payoneer Global Set To Join S&P SmallCap 600
  • Payoneer Global Inc PAYO will replace Lantheus Holdings, Inc LNTH in the S&P SmallCap 600 effective before trading on October 12
  • Lantheus will replace Targa Resources, Inc TRGP in the S&P MidCap 400.
  • Targa will replace Nielsen N.V. NLSN in the S&P 500.
  • Elliot Management Corp is acquiring Nielsen in a transaction likely to close on October 11.
  • Payoneer clocked 34% revenue growth in the second quarter to $148.2 million, beating the consensus of $131.5 million. EPS of $0.01 beat the consensus loss of $(0.06).
  • "Payoneer delivered strong revenue growth and profitability," said Payoneer Co-CEO Scott Galit in the Q2 report. "Results highlight our multi-year investments to build a diverse and global business model across industries, products, and geographies, which together continues to increase our overall effective take rate. We are growing the number of customers using our services, benefitting from our strategic expansion into higher value services, as well as seeing better-than-expected results from Ukraine and rising interest rate tailwinds."
  • Price Action: PAYO shares closed higher by 3.07% at $7.06 on Thursday.

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