PayPal Holdings Inc. shares are up 4.4% in Thursday trading after Macquarie analyst Dan Dolev began coverage of the payments provider with a "high-conviction" outperform rating and $112 target price. He wrote that his recent survey of consumers found that PayPal's usage trends are improving more so than trends for mobile wallets like those made by Apple Inc. and Alphabet Inc.'s . While younger millennials showed the least improvement in terms of PayPal engagement in his survey, Dolev is upbeat that Venmo and the recent acquisition of rewards-platform Honey will help PayPal's standing with this demographic. "When the virus dust settles, long-term growth potential will be back in fashion," he wrote. The stock is off 24% over the past month as the S&P 500 has lost 28%. Read More...
PayPal Holdings Inc. shares are up 4.4% in Thursday trading after Macquarie analyst Dan Dolev began coverage of the payments provider with a “high-conviction” outperform rating and $112 target price. He wrote that his recent survey of consumers found that PayPal’s usage trends are improving more so than trends for mobile wallets like those made by Apple Inc. and Alphabet Inc.’s . While younger millennials showed the least improvement in terms of PayPal engagement in his survey, Dolev is upbeat that Venmo and the recent acquisition of rewards-platform Honey will help PayPal’s standing with this demographic. “When the virus dust settles, long-term growth potential will be back in fashion,” he wrote. The stock is off 24% over the past month as the S&P 500 has lost 28%.
Read More
Add Comment