Want to see PAYO full AI Analyst Report?
Top Page
Payoneer
(NASDAQ:PAYO)
Select Model
Select Model
Rating:71Outperform
Price Target:
$8.00
▲(12.36% Upside)
Action:Reiterated
Date:09/15/26
The score is driven primarily by solid financial strength (strong growth, positive profitability, strong cash generation, and very low leverage). Offsetting factors include a high valuation (P/E ~50) and only neutral technical momentum, while the Nuvei acquisition/approval adds support but is tempered by litigation-related uncertainty.
Positive Factors
Revenue growth and profitability
Payoneer has expanded revenue substantially over multiple years while moving from earlier losses to sustained TTM profitability. This indicates meaningful business scale and customer adoption, supporting continued investment in its cross-border payments platform and broader operating resilience.
Negative Factors
Margin compression
Profitability has weakened materially from the 2023–2024 peak even as revenue continued to grow. Sustained margin compression could limit earnings conversion from future volume expansion and may indicate that costs or business mix are becoming less favorable as Payoneer scales.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth and profitability
Payoneer has expanded revenue substantially over multiple years while moving from earlier losses to sustained TTM profitability. This indicates meaningful business scale and customer adoption, supporting continued investment in its cross-border payments platform and broader operating resilience.
Read all positive factors
Payoneer (PAYO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.42B
Dividend YieldN/A
Average Volume (3M)2.34M
Price to Earnings (P/E)50.6
Beta (1Y)1.58
Revenue Growth6.31%
EPS Growth-48.91%
CountryUS
Employees2,540
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)0.14
Shares Outstanding338,850,830
10 Day Avg. Volume1,281,451
30 Day Avg. Volume2,344,679
Financial Highlights & Ratios
PEG Ratio-0.68
Price to Book (P/B)2.88
Price to Sales (P/S)1.93
P/FCF Ratio9.82
Enterprise Value/Market Cap0.88
Enterprise Value/Revenue1.98
Enterprise Value/Gross Profit2.53
Enterprise Value/Ebitda11.54
Forecast
1Y Price Target
$7.40Price Target Upside3.93% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)0.15
Revenue Forecast (FY)$1.08B
Payoneer Business Overview & Revenue Model
Company Description
Payoneer Global Inc. provides a foundational digital platform that empowers global commerce and payment processing for marketplaces, various online platforms, and e-commerce merchants worldwide. The company offers a comprehensive array of solution...
How the Company Makes Money
Payoneer primarily makes money by charging fees and earning financial income on the payment flows and account balances it processes for customers.
Key revenue streams include:
1) Transaction and service fees: Payoneer charges fees tied to usage o...
Payoneer Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational momentum driven by a powerful B2B acceleration, robust ARPU growth, record adjusted EBITDA performance and an upward revision to full-year guidance. These positives outweigh the challenges: modest GAAP revenue growth, interest-income and take-rate pressure from lower rates, higher operating costs in some areas, and exposure from only partial hedging of customer funds. Strategic investments (stablecoin, AI, regulatory/licensing) and successful product migrations (Stripe checkout) support confidence in mid-teens exit growth and continued margin expansion.Positive Updates
Revenue ex Interest Accelerated
Revenue excluding interest income grew 11% year-over-year to $210M (accelerating ~200 basis points sequentially), and total revenue was $262M, up 6% YoY.
Negative Updates
Modest Overall Top-Line Growth
Total GAAP revenue growth was modest at 6% YoY ($262M), indicating that interest income headwinds and mix effects limited full revenue growth despite stronger revenue-ex-interest performance.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue ex Interest Accelerated
Revenue excluding interest income grew 11% year-over-year to $210M (accelerating ~200 basis points sequentially), and total revenue was $262M, up 6% YoY.
Read all positive updates
Company Guidance
Payoneer raised its 2026 outlook to total revenue of $1.10–$1.14 billion (a $10M midpoint increase vs. February), which includes $200M of interest income and $900–$940M of revenue excluding interest; it increased total adjusted EBITDA to $285–$295M while keeping guidance unchanged for revenue ex‑interest, transaction costs and adjusted OpEx (adjusted OpEx expected to rise mid‑single digits, roughly 6–7%), and expects to more than double core adjusted EBITDA to $90M at the midpoint, to exit 2026 at a mid‑teens revenue growth rate, to sustain B2B volume growth of >30% for the remainder of the year, to see marketplace volumes in the mid‑single digits with back‑half acceleration, checkout volumes flat to modest mid‑single digits, and Q2 revenue growth broadly stable versus Q1.Payoneer Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
88
Very Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.08B | 1.05B | 977.72M | 831.10M | 627.62M | 473.40M |
| Gross Profit | 843.47M | 821.91M | 825.61M | 708.81M | 517.46M | 371.93M |
| EBITDA | 185.28M | 181.21M | 184.92M | 160.03M | 31.99M | -7.06M |
| Net Income | 50.27M | 73.19M | 121.16M | 93.33M | -11.97M | -33.99M |
Balance Sheet | ||||||
| Total Assets | 8.76B | 8.96B | 7.93B | 7.28B | 6.59B | 5.08B |
| Cash, Cash Equivalents and Short-Term Investments | 7.82B | 415.54M | 497.47M | 617.02M | 543.30M | 465.93M |
| Total Debt | 86.16M | 72.33M | 21.38M | 43.42M | 31.01M | 27.02M |
| Total Liabilities | 8.11B | 8.25B | 7.21B | 6.62B | 6.05B | 4.59B |
| Stockholders Equity | 653.53M | 704.43M | 724.79M | 664.27M | 545.26M | 487.07M |
Cash Flow | ||||||
| Free Cash Flow | 162.74M | 206.62M | 116.53M | 111.70M | 55.13M | -884.00K |
| Operating Cash Flow | 222.10M | 233.49M | 176.93M | 159.49M | 83.96M | 20.02M |
| Investing Cash Flow | -34.46M | -218.34M | -1.96B | -44.25M | 5.73M | 10.16M |
| Financing Cash Flow | 480.17M | 738.04M | 427.77M | 511.95M | 1.46B | 1.40B |
Payoneer Technical Analysis
Positive
7.12
Price Trends
7.13
Positive
7.04
Positive
6.09
Positive
Market Momentum
<0.01
Negative
53.14
Neutral
77.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PAYO, the sentiment is Positive. The current price of 7.12 is below the 20-day moving average (MA) of 7.14, below the 50-day MA of 7.13, and above the 200-day MA of 6.09, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 53.14 is Neutral, neither overbought nor oversold. The STOCH value of 77.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PAYO.
Payoneer Risk Analysis
Payoneer disclosed 45 risk factors in its most recent earnings report. Payoneer reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Payoneer Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $5.20B | 16.91 | 32.97% | ― | 23.79% | 1992.92% | |
77 Outperform | $26.25B | 24.01 | 30.40% | ― | 20.36% | 11.15% | |
76 Outperform | $4.07B | 20.93 | 37.65% | 1.36% | 57.03% | 38.31% | |
71 Outperform | $2.42B | 50.64 | 7.27% | ― | 6.31% | -48.91% | |
67 Neutral | $1.91B | 187.04 | 1.36% | ― | 22.41% | ― | |
66 Neutral | $2.39B | 8.82 | 23.02% | ― | 5.76% | -3.78% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
PAYO
Payoneer
7.15
0.96
15.51%
EEFT
Euronet Worldwide
63.95
-16.61
-20.62%
CPAY
Corpay Inc
399.72
115.48
40.63%
MQ
Marqeta
18.33
-0.91
-4.73%
DLO
DLocal
14.44
-0.69
-4.53%
RELY
Remitly Global
24.57
7.62
44.96%
Payoneer Corporate Events
Executive/Board ChangesM&A TransactionsShareholder Meetings
Payoneer Shareholders Approve Nuvei Merger Agreement
Positive
Sep 14, 2026
On September 14, 2026, Payoneer Global Inc. held a special meeting of stockholders to vote on proposals related to its planned merger with Canadian payments firm Nuvei. Shareholders representing a majority of the 338,850,836 eligible common shares...
Legal ProceedingsM&A TransactionsRegulatory Filings and ComplianceShareholder Meetings
Payoneer faces shareholder lawsuits over Nuvei merger disclosures
Negative
Sep 8, 2026
On August 11, 2026, Payoneer filed a definitive proxy statement with the U.S. Securities and Exchange Commission for a September 14, 2026 special shareholders’ meeting to vote on a merger in which Panda Acquisition Sub Inc., an indirect Nuve...
Business Operations and StrategyM&A Transactions
Payoneer to Be Acquired by Nuvei in Cash Deal
Positive
Jun 15, 2026
On June 12, 2026, Payoneer Global Inc. agreed to be acquired by Canadian payments firm Nuvei under a merger in which a Nuvei subsidiary will merge into Payoneer, leaving Payoneer as a wholly owned Nuvei unit and giving Payoneer shareholders $7.40 ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.