Payoneer Global rises after lifting FY forecast, Q1 results beat

Payoneer Global

08/05/2024 13:06

** Payoneer Global shares  PAYO.O  rise 11.1% to $5.8
premarket after fintech firm lifts FY rev forecast, posts upbeat
Q1 results
    ** Stock to open at over five-month high if gains hold
    ** Co sees FY rev in the range of $895 mln and $905 mln, up
from earlier reported forecast of $875 mln and $885 mln 
    ** PAYO's Q1 rev of $228.2 mln surpasses Street estimates of
$211.6 mln - LSEG
    ** Co's Q1 profit/shr of 8 cents beats analysts'
expectations of 5 cents - LSEG data
    ** CEO John Caplan credits co's Q1 performance and updated
forecast to faster growth prospects in its merchant services
segment 
    ** All ten brokerages have a "buy" or higher rating on
stock, with a median PT of $6.5 - LSEG
    ** Up to last close, stock had risen 0.2% YTD 

 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))