Payments company Stripe Inc. looks to give customers access to Bitcoin four years after suspending support for the cryptocurrency, Bloomberg reports. Stripe collaborated with crypto startup OpenNode to help its customers to accept Bitcoin payments through a new app. Stripe customers will be able to convert incoming payments and any amount of their balance into Bitcoin via the…
Here’s Why Credit Slashed Its Price Target on PayPal
Credit Suisse slashed its price target for PayPal Holdings Inc to $155 from $190 (55.5 percent upside) and reiterated Outperform. The re-rating followed model updates and increased levels of uncertainty stemming from multiple factors. The factors included CFO departure, inflationary pressures on low-income consumers, discretionary spending, supply chain impacts, and elevated user churn. PayPal’s FY 2022 guidance calling for…
Here’s How Wells Fargo Views Fintech Stocks Shopify, PayPal, Block
Wells Fargo analyst Jeff Cantwell launched global coverage of the payments and fintech sector with a bullish stance. He saw a $1.5 trillion annual revenue opportunity for fintech companies globally and expects 6 percent yearly growth over the ensuing decade. Cantwell initiated Shopify Inc. with an Overweight rating and an $834 price target (18.2 percent upside). After the recent…
Here’s Why Baird Slashed PayPal’s Price Target by 15 Percent
Baird analyst Colin Sebastian lowered the price target on PayPal Holdings Inc. to $175 from $205 (51.3 percent upside) and kept an Outperform rating on the shares. He believed steady or even accelerating trends concerning merchant integration with digital wallets were a crucial medium and long-term positive for PayPal. However, Sebastian remained cautious near term on macro headwinds, slower…
Here’s How Goldman Sachs Views PayPal, Block
Goldman Sachs analyst Michael Ng has initiated coverage on fintech firms PayPal Holdings Inc. and Block Inc. with Buy ratings. Ng initiated coverage of PayPal with a $144 price target (19 percent upside). Ng also initiated Block with a $173 price target (20 percent upside). Ng saw PayPal’s return to profit growth of over 20 percent beyond this year, driven by product initiatives…
PayPal Extends Service in Ukraine
PayPal Holdings Inc. expanded its services to allow Ukrainian citizens and refugees to send and receive funds from overseas from their Ukrainian PayPal Wallet in dollars, Canadian dollars, British pounds, and euros. Reuters reports that over 3 million Ukrainians have fled since Russia launched its invasion on February 24. Ukrainians could transfer funds from their PayPal accounts…
A Bullish Sign for Apple, Meta Platforms and PayPal Stocks: What the Charts Are Saying
Apple, Inc., Meta Platforms, Inc. and PayPal Holdings, Inc. are all trading higher in strong uptrends. An uptrend occurs when a stock consistently makes a series of higher highs and higher lows on the chart. The higher highs indicate the bulls are in control while the intermittent higher lows indicate consolidation periods. Traders can use moving…
PayPal Stops Accepting New Users in Russia
Online payments company PayPal Holdings Inc stopped accepting new users in Russia on Wednesday given current circumstances, a company spokesperson told Reuters. PayPal, which only allows cross-border transactions by users in Russia, had already blocked some users and some of the country’s biggest banks following sanctions by the United States and other countries in response…
PayPal Co-founder Peter Thiel Resigning From Meta’s Board of Directors
Billionaire tech entrepreneur Peter Thiel is resigning from the board of Facebook’s parent company Meta later this year, the company announced on Monday. Thiel, a co-founder of online payments system PayPal, was one of the earliest investors in Facebook and joined the company board in April 2005. He became a Facebook investor in 2004 when…
Here’s How Analysts View PayPal Post Q4
Analysts slashed their price targets on PayPal Holdings Inc. following dismal Q4 results. JPMorgan analyst Tien-tsin Huang lowered the price target to $190 from $272 (44.7 percent upside) and kept an Overweight. The company’s guidance was “broadly disappointing, but probably necessary to reset expectations in order to get back to beating and raising expectations.” The analyst cut estimates but still…
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