Is Payoneer Global, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Payoneer Global, Inc. has moved from attractive to fair, indicating a shift in its perceived value. The company appears to be fairly valued based on its current metrics, with a P/E ratio of 21, a Price to Book Value of 3.39, and an EV to EBITDA of 10.05. In comparison, Shift4 Payments, Inc. has a lower P/E of 14.01, while The Brink's Co. is slightly more expensive with a P/E of 22.31.
Despite the fair valuation, Payoneer has underperformed significantly against the S&P 500, with a year-to-date return of -42.23% compared to the index's 13.30%. This underperformance over multiple periods, including a 5-year return of -40.08% versus the S&P 500's 91.29%, reinforces the cautious outlook on its valuation.