PAYO - Payoneer Global: Plenty Of Growth Ahead

2024-05-22 14:55:18 ET

Summary

• Payoneer has achieved impressive revenue growth, with a 3-year CAGR of 32.5% and growth in every region it operates in.
• The company has improved its margins and has room for further improvement, despite stock-based compensation affecting its numbers.
• Payoneer's revenue growth for FY24 is projected to be around 8.3%, which is a drop from previous years, but the company expects acceleration in the second half of the year.

Introduction

I wanted to take a look at a company that is helping SMBs all around the world to manage their financials, like accounts receivables, payables, cross-border payments, and other services that are essential for a business to thrive and operate as effectively as possible. That company is Payoneer ( PAYO ). I wanted to take a look at the company’s financials and give some comments on its outlook. The company managed to achieve great results in such a short time, with fantastic margin improvements and plenty of growth in the sector. I begin my coverage of the company with a buy rating, as it seems to be trading at a decent discount currently....

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