Benchmark raised its price target on Payoneer Global Inc. (NASDAQ:PAYO) to $9.00 from $7.00 on Tuesday, maintaining a Buy rating.
The firm highlighted quality improvements in Payoneer's business following strong Q1 2026 results. Earnings surpassed expectations, and management raised full-year guidance.
Revenue excluding interest income grew 11% year-over-year. B2B volume surged 44%. With a market cap of $1.64 billion and an 85% gross profit margin, the stock appears undervalued.
Analyst Mark Palmer stated that B2B increasingly forms Payoneer's strategic core, a shift from its historical image as a marketplace payments company tied to cross-border e-commerce.
The price target increase reflects the evolving business mix and B2B growth trajectory.
In recent news, Payoneer reported Q1 2026 EPS of $0.06 (vs. $0.04 expected) and revenue of $261.6 million (vs. $255.08M). Additionally, it extended its 15-year partnership with Upwork as a primary payout partner.
