Cross-border payment platform Payoneer (NASDAQ: PAYO) will be reporting earnings this Thursday morning. Here’s what investors should know.
Payoneer beat analysts’ revenue expectations last quarter, reporting revenues of $261.6 million, up 6.1% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
Is Payoneer a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Payoneer’s revenue to grow 4% year on year, slowing from the 8.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Payoneer rarely misses Wall Street’s revenue estimates.
Looking at Payoneer’s peers in the diversified financial services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Paymentus delivered year-on-year revenue growth of 28.8%, beating analysts’ expectations by 4.3%, and PayPal reported revenues up 4.8%, topping estimates by 2.5%. Paymentus traded up 28.9% following the results while PayPal was also up 4.1%.
Read our full analysis of Paymentus’s results here and PayPal’s results here.
There has been positive sentiment among investors in the diversified financial services segment, with share prices up 6.5% on average over the last month. Payoneer’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $7.85 (compared to the current share price of $7.12).
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