Payoneer Global jumps after raising annual revenue forecast

Payoneer Global

13/05/2022 19:10

** Shares of payment services co  PAYO.O  up 30% at $4.69 in
afternoon trading after raising 2022 revenue forecast
    ** PAYO raises forecast to between $550 mln and $560 mln
from its prior guidance of $530 mln to $540 mln 
    ** Co's Q1 revenue increases 36% to $137 mln, beating
analysts' estimates of $135.0 mln, driven by increased adoption
of higher value services and strong customer acquisition
 urn:newsml:reuters.com:*:nBw1z5j3ca
    ** "Outlook remains solid and there are a variety of growth
initiatives that Payoneer is capitalizing on. Payoneer is making
a lot of significant investments across a variety of spaces and
there is still a significant growth opportunity both on a
product and geographic standpoint"- Northland Capital Markets
    ** PAYO has exceeded revenue estimates for 4 straight
quarters - Refinitiv IBES data
    ** As of last close, PAYO stock down ~36% YTD

 (Reporting by Aatrayee Chatterjee in Bengaluru)
 ((Aatrayee.Chatterjee@thomsonreuters.com;))