Keefe Bruyette analyst Sanjay Sakhrani last night downgraded Payoneer Global (PAYO) to Market Perform from Outperform with an unchanged price target of $12. The firm cites valuation for the downgrade with the stock up 104% in 2024. Payoneer has been one of the key beneficiaries of higher interest rates and a reversal in rates is likely to limit EBITDA margin expansion and EBITDA growth over the next couple of years, the analyst tells investors in a research note. Keefe believes the stock’s valuation “appears full.”
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PAYO:
- Payoneer Global downgraded to Market Perform from Outperform at Keefe Bruyette
- Payoneer Global price target raised to $12.50 from $12 at Goldman Sachs
- Unusually active option classes on open November 11th
- Payoneer Global price target raised to $13 from $10 at Northland
- Payoneer Global price target raised to $12 from $10 at Benchmark