Payoneer Global named a top pick for 2023 at Northland

Northland analyst Mike Grondahl names Payoneer Global a top pick for 2023 and keeps an Outperform rating on the shares with a $10 price target. The company is well positioned to "capitalize on global tailwinds and investment in high-value products and services," Grondahl tells investors in a research note. Higher interest rates can also drive higher float income, says the analyst. He believes concerns over Payoneer’s e-commerce exposure, which is lower margin, is embedded in its Q4 guidance.