Today’s Research Reports on Stocks to Watch: Square and PayPal
NEW YORK, NY / ACCESSWIRE / March 6, 2018 / It was last November that Square began to test a Bitcoin exchange so that users of its platform could buy and sell the cryptocurrency. Yesterday a report indicated that the company could be soon testing an integration with Bitcoin. The company has made no statement about this yet but traders were excited and pushed the stock up to close with a nearly 10% gain. Shares of PayPal also saw a modest boost after an analyst at Baird had positive things to say about the company's phased out relationship with eBay.
RDI Initiates Coverage on:
Square, Inc.
https://rdinvesting.com/report/?ticker=SQ
PayPal Holdings, Inc.
https://rdinvesting.com/report/?ticker=PYPL
Square, Inc. shares were gaining big in Monday trading, closing the day up nearly 10% on high volume. The stock even hit a new high of $50.50 during intra-day trading after a news site based in Latvia said that Square is "possibly testing an integration with Bitcoin." The website, Cryptona, featured a report from contributor Oladapo Olagoke regarding a report from three unidentified traders. Square is yet to confirm anything. It was at the end of January that the company's CEO Jack Dorsey tweeted that Square would eventually introduce Bitcoin trading. He even had a follow up Tweet at the end of last month that read, "Bitcoin, for us, is not stopping at buying and selling. Yesterday's gain was the biggest single day close for the company".
Access RDI's Square, Inc. Research Report at:
https://rdinvesting.com/report/?ticker=SQ
PayPal Holdings, Inc. shares closed up a modest 0.25% on Monday with about 6.6 million shares traded. The digital payment processor may have had a modest close but had exciting news recently. The company has filed a patent for an "expedited virtual currency transaction system," according to a report. Also yesterday an analyst at Baird remarked that PayPal may be less impacted than investors may think by eBay deciding to change their financial relationship. Analyst Colin Sebastian said on Monday in a note, "Our analysis suggests that declining eBay contributions present a modest EPS headwind under conservative checkout share assumptions, while investor fears may be somewhat exaggerated." PayPal is still expected to be a checkout option on the e-commerce site until July of 2023.
Access RDI's PayPal Holdings, Inc. Research Report at:
https://rdinvesting.com/report/?ticker=PYPL
Our Actionable Research on Square, Inc. (NYSE: SQ) and PayPal Holdings, Inc. (NASDAQ: PYPL) can be downloaded free of charge at Research Driven Investing.
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