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Earnings Estimates Moving Higher for Payoneer Global Inc. (PAYO): Time to Buy?
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Payoneer Global Inc. (PAYO - Free Report) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company.
Analysts' growing optimism on the earnings prospects of this company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
Consensus earnings estimates for the next quarter and full year have moved considerably higher for Payoneer Global Inc. As there has been strong agreement among the covering analysts in raising estimates.
Current-Quarter Estimate Revisions
For the current quarter, the company is expected to earn $0.04 per share, which is a change of +180% from the year-ago reported number.
The Zacks Consensus Estimate for Payoneer Global Inc. has increased 33.33% over the last 30 days, as two estimates have gone higher compared to no negative revisions.
Current-Year Estimate Revisions
For the full year, the company is expected to earn $0.22 per share, representing a year-over-year change of +833.33%.
In terms of estimate revisions, the trend for the current year also appears quite encouraging for Payoneer Global Inc. Over the past month, four estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 79.17%.
Favorable Zacks Rank
Thanks to promising estimate revisions, Payoneer Global Inc. currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom Line
While strong estimate revisions for Payoneer Global Inc. have attracted decent investments and pushed the stock 7.8% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away.
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Earnings Estimates Moving Higher for Payoneer Global Inc. (PAYO): Time to Buy?
Payoneer Global Inc. (PAYO - Free Report) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company.
Analysts' growing optimism on the earnings prospects of this company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
Consensus earnings estimates for the next quarter and full year have moved considerably higher for Payoneer Global Inc. As there has been strong agreement among the covering analysts in raising estimates.
Current-Quarter Estimate Revisions
For the current quarter, the company is expected to earn $0.04 per share, which is a change of +180% from the year-ago reported number.
The Zacks Consensus Estimate for Payoneer Global Inc. has increased 33.33% over the last 30 days, as two estimates have gone higher compared to no negative revisions.
Current-Year Estimate Revisions
For the full year, the company is expected to earn $0.22 per share, representing a year-over-year change of +833.33%.
In terms of estimate revisions, the trend for the current year also appears quite encouraging for Payoneer Global Inc. Over the past month, four estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 79.17%.
Favorable Zacks Rank
Thanks to promising estimate revisions, Payoneer Global Inc. currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom Line
While strong estimate revisions for Payoneer Global Inc. have attracted decent investments and pushed the stock 7.8% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away.