- Needham analyst Mayank Tandon initiated coverage on Payoneer Global PAYO with a Buy rating and a $13 price target implying a 32.65% upside.
- Tandon is optimistic about the company's diverse cross-border payments product suite, including physical/virtual card issuance, merchant services, tax, compliance, and FX solutions.
- Payoneer Global is a diverse cross-border payments provider operating in a market ripe for disruption and significant growth as online marketplaces gain popularity, Tandon added.
- Price action: PAYO shares traded higher by 2.04% at $10 in the market session on the last check Thursday.
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