William Blair downgraded Payoneer Global Inc. (NASDAQ:PAYO) from Outperform to Market Perform. This follows the confirmed $2.75 billion acquisition by Canadian fintech firm Nuvei. The all-cash transaction values Payoneer at $7.40 per share.
Analysts at Citi and Keefe Bruyette also downgraded the stock citing valuation concerns. Payoneer shares previously surged over 30% on acquisition rumors. The stock currently trades near the $7.40 offer price.
The deal combines Nuvei’s payment technology with Payoneer’s cross-border commerce services. Both corporate boards have approved the transaction. The companies anticipate a mid-2027 closing following a lengthy regulatory review process.