Payoneer Global price target lowered to $8 from $14 at Needham

Needham lowered the firm’s price target on Payoneer Global (PAYO) to $8 from $14 and keeps a Buy rating on the shares. The company’s results came in above expectations driven by continued adoption of its higher value products which drove strong take-rates, even as volumes came in below expectations due to the choppy macro environment, the analyst tells investors in a research note. Needham adds however that while the momentum is expected to continue through Q2, management suspended the FY25 guide as the impact from tariffs are expected to weigh on volumes.