Payoneer Global initiated with a Buy at Benchmark

Benchmark analyst Mark Palmer initiated coverage of Payoneer Global with a Buy rating and $7 price target. The company’s shares are offering a compelling opportunity for small-cap investors, as the strong value proposition of its cross-border payments offerings, combined with management’s plans for unlocking the value of the platform, has put Payoneer on a path to post stronger organic revenue growth, the analyst tells investors in a research note. Payoneer discount valuation at just 5.2-times enterprise value to expected FY25 EBITDA trails those of fintech peers and does not reflect its prospects for profitable growth, the firm added.