Payoneer Global (PAYO) Reports First Quarter Financial ResultsPayoneer Global Inc ( NASDAQ:PAYO ) reported a 19% year-over-year increase in total revenue, with a record 29% adjusted EBITDA margin. The company also experienced a significant increase in volume growth, with a 21% increase in Q1. B2B volume growth was 33% in Q1, a significant increase from 13% in the previous quarter. Free cash flow conversion was well above 100% year-to-date. Share repurchases were $51 million worth of shares bought back during the quarter.
Payoneer Global's 2024 revenue guidance was raised by $20 million, expecting between $895 million and $905 million. Adjusted EBITDA guidance was increased by $15 million to be between $200 million and $210 million. However, the company faced challenges such as a decrease in Q1 take rate, an increase in transaction costs, a rise in sales and marketing expenses, and a reduction in general and administrative expenses due to headcount cuts.
Despite these challenges, Payoneer Global's earnings per share was 8 cents, above the analyst estimate for EPS of 5 cents. The company reported revenue of $228.18 million, 7.85% better than the analyst estimate of $211.58 million.
Technical Outlook
Payoneer Global ( NASDAQ:PAYO ) is up 1.39% as of the time of writing. NASDAQ:PAYO is clearly overbought with a Relative Strength Index (RSI) of 74.29. The stock is above the 200,100 and 50- Moving Averages (MA) respectively.
Payoneer
Payoneer and Etsy Partnership Spark A Surge(NASDAQ: PAYO), the financial technology company empowering the world’s small and medium-sized businesses (SMBs) to transact, do business, and grow globally, announced a collaboration with global online marketplace Etsy (NASDAQ: ETSY), to support its bespoke seller offering, Etsy Payments. The collaboration will enable Etsy to streamline payments to sellers and help create economic opportunities to more entrepreneurs in emerging markets.
Etsy Payments is the core of Etsy’s payment technology and enables flexible and secure payments infrastructure to both buyers and sellers. The collaboration between Payoneer and Etsy will utilize Payoneer’s global infrastructure to offer greater services and seamless payouts to sellers in the currency of their preference. It will initially be launched in Ukraine and Thailand, followed by India, Japan, Argentina, Chile, and Peru by the end of 2023.
Price Momentum
PAYO is trading in the middle of its 52-week range and above its 200-day simple moving average.
Price change
The price of PAYO shares has increased $0.13 since the market last closed. This is a 2.40% rise. Investors are still evaluating the share price, but the stock still appears to have some upward momentum. This is a positive sign for the stock's future value.
PAYO Payoneer Global Options Ahead of EarningsAnalyzing the options chain and the chart patterns of PAYO Payoneer Global prior to the earnings report this week,
I would consider purchasing the 4usd strike price Puts with
an expiration date of 2024-2-16,
for a premium of approximately $0.22.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
Payo is set up beautifully to launchA strong company with experienced leaders and earnings report set to light the fuse aftermarket on 8/11.
Unfortunately, inflation numbers are set to release 8/10 8:30 AM - Thus, we can expect a rise on 8/9, a sell off on 8/10 and 11, and a rise again on 8/12.
the above is simply personal opinion and should not be construed as investment advice.
Best of luck.