Payoneer Global price target lowered to $9 from $11 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Payoneer Global (PAYO) to $9 from $11 and keeps a Buy rating on the shares. Heading into Q1 earnings, financial technology stocks have generally underperformed as the macro picture “now appears much cloudier,” the analyst tells investors in a research note. Goldman still likes “higher beta names with idiosyncratic stories” and is “incrementally becoming more constructive on the more defensive names.”