Payoneer Global: Ukraine Coming Back

 

  • Payoneer easily surpassed Q1'22 consensus estimates.
  • The global payments company has seen the Ukraine customer base remain resilient with up to 50% of the business intact.
  • The stock is cheap at 2x '23 EV/S targets after the company hiked '22 revenue guidance by $20 million.
  • This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More » 
Only a few months ago, Payoneer Global (NASDAQ:PAYO) was hit by a cut to 2022 revenue expectations due to the war in Ukraine. The company reported a strong Q1'22 and the Ukraine business is stronger than expected as most of the country is free from Russian attacks or control. My investment thesis remains ultra Bullish on the global payments company due to the extreme stock weakness while growth is strong.

Read the full article on Seeking Alpha. 

Disclosure: Long PAYO. Please review the disclaimer page for more details. 

Update - June 1

Payoneer continues to make an impressive bounce will the market was in panic mode over the last month. The stock is heading much higher as demand for a global payments platform surges.

Finviz Chart

Update - August 12

As predicted, Ukraine pain ended fast. Payoneer is now guiding for higher revenues this year than the original indication that 2022 revenues would reach $580 million without the war in Ukraine. The payments company guided to revenues of just $535 million for the year and the new estimate is up at $585 million for 24% growth. 

-Q2 GAAP EPS of $0.01 beats by $0.07.
-Revenue of $148.2M (+33.6% Y/Y) beats by $16.72M.
-Full year guidance Revenue: $580 million - $590 million

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