Payoneer Global price target lowered to $7 from $8 at Cantor Fitzgerald

Cantor Fitzgerald analyst Josh Siegler lowered the firm’s price target on Payoneer Global to $7 from $8 and keeps an Overweight rating on the shares. Revenue growth in Q4 faced tough comps and would have been 27% if excluding a $7.5M revenue impact from enterprise customer onboarding in 4Q22, the analyst tells investors in a research note. The accelerating growth from Payoneer’s highest-engaged Ideal Customer Profiles increases the firm’s conviction in the company’s strategic move up-market and Cantor believes Payoneer’s increased focus on ICPs should drive more favorable unit economics and long-term healthy growth.