Payoneer (PAYO) PT Lowered to $7 at KBW on 'Softer Revenue Growth'

Keefe, Bruyette & Woods analyst Sanjay Sakhrani lowered the price target on Payoneer (NASDAQ: PAYO) to $7.00 (from $8.00) while maintaining a Market Perform rating.

The analyst commented: "PAYO reported a solid quarter in a choppy backdrop and withdrew its guidance given the uncertainty. On the call management outlined why it is well positioned, and we tend to agree. However, the stock is unlikely to work until tariff uncertainty resolves itself. Lowering PT to $7 (from $8) on softer revenue growth amid tariff uncertainties.

On the call, management outlined a roughly negative 10ppt annualized revenue negative impact if the tariff outcome is the onerous scenario presently on the table. While not insignificant, we believe there is a reasonable probability of a betterthan-onerous outcome. However, we are hard-pressed to make that assumption at this point in time, which is why we remain MP rated. However, for those investors willing to assume a better outcome, particularly between China/US, PAYO might be worth a look given the strong management execution thus far."

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