Episode Details
Back to EpisodesPayoneer Stock Surges on BofA's Buy Rating
Description
Payoneers stock surged 3.4% after BofA Securities initiated coverage with a buy rating and a $6 price target, implying a 27% upside. Analysts foresee Payoneer evolving into a comprehensive multi-currency platform for SMEs in global trade, with significant growth potential in the $6 trillion market. Despite the positive reaction, Payoneers volatility remains high, with 24 swings over 5% in the past year. The broader market rallied on Iran tension news, boosting financial stocks, while energy prices dropped 7%. Payoneer is down 10.2% YTD and 37.2% off its 52-week high, with long-term holders from five years ago seeing their investments shrink by more than half.
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