Payoneer Global upgraded to Zacks Rank #1 with positive earnings outlook

From NASDAQ: 2024-12-25 12:00:12

Payoneer Global Inc. (PAYO) has been upgraded to a Zacks Rank #1 (Strong Buy) due to an upward trend in earnings estimates, impacting stock prices. The Zacks rating system is based on changing earnings pictures, with an average annual return of +25% for Zacks Rank #1 stocks since 1988.

Rising earnings estimates for Payoneer Global suggest an improvement in the company’s business, driving stock prices higher. Institutional investors use earnings estimates to calculate fair value, influencing stock prices. The Zacks rating upgrade indicates a positive earnings outlook that could benefit the stock’s price performance in the near term.

Analysts predict Payoneer Global will earn $0.35 per share for the fiscal year ending December 2024, a 45.8% year-over-year change. The Zacks Consensus Estimate for the company has increased by 41.4% over the past three months. The Zacks rating system maintains an equal proportion of ‘buy’ and ‘sell’ ratings for all covered stocks.

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Read more at NASDAQ: Payoneer Global (PAYO) Upgraded to Strong Buy: Here’s Why