|Bid||103.61 x 1100|
|Ask||103.99 x 800|
|Day's Range||103.60 - 104.05|
|52 Week Range||76.70 - 121.48|
|Beta (3Y Monthly)||0.95|
|PE Ratio (TTM)||48.82|
|Earnings Date||Jan 28, 2020 - Feb 3, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||126.70|
DEEP DIVE One of the best aspects of the slow but sustained growth of the U.S. economy has been that hourly wages have been growing faster than the overall economy. This is wonderful for consumers. But with slow growth overall, the tight labor market can put a damper on corporate profits and hurt investors’ returns.
The solution, developed by the ecommerce giant and money transfer company Western Union, allows customers to place an order online and then pay in cash at a branch of Western Union. “Lawyers were at the table from start to finish,” says the financial services company’s chief legal officer, Caroline Tsai, about achieving the deal. There has long been a debate about whether general counsel and in-house lawyers generally are primarily business enablers or guardians.
Much of that insight comes from having direct experience of many deals, says Alan Klein, co-head of law firm Simpson Thacher & Bartlett’s M&A practice in New York. The threat that Cfius can derail a blockbuster deal — as seen by President Donald Trump’s decision to block Singapore-registered Broadcom’s $142bn hostile bid for the US chipmaker Qualcomm — has made the process a priority for dealmakers.
Target is the Yahoo Finance Company of the Year for 2019. We talk with Target's executive team and experts on how the retailer made it happen in 2019 and what's in store for 2020.
Matthew Iorio's White Elm Capital is returning money to its investors at the end of the year. Based in Greenwich Connecticut, Matt Iorio's White Elm Capital is a top-tier hedge fund that flied under many investors' radar screens. A former managing director at Stephen Mandel's Lone Pine Capital, Matt Iorio is a Tuck School of […]
It is less likely that Santa alone will drive Wall Street this season as trade tensions persist. Overall, these ETF investing trends should stay strong.
In an open letter to HP shareholders, the activist investor urges the HP board to reconsider its to reverse its rejection of Xerox’s $22-a-share bid for the company.
(Bloomberg) -- When two Irish brothers started Stripe Inc. together in 2010, there was little question about where they should put their headquarters. It had to be California.Now, though, Stripe is leaving the tech mecca of San Francisco, awash in tech talent and investor cash, and is in the process of moving its main office about 10 miles to neighboring South San Francisco. What’s more, the company—whose $35 billion valuation makes it one of the world’s most valuable startups—is currently building up its staff in another state altogether: New York.In September, Stripe opened an office near Wall Street the company told Bloomberg, and plans to add several hundred employees there in the coming years. The startup’s planned New York growth is on track to outpace its headquarters’.The city has long been a hub for finance, and more recently for tech. “New York is a global leader,’’ said David Singleton, Stripe’s chief technology officer. “It’s just an important market for entrepreneurialism and startups.”Stripe is one of many Bay Area-based fintech companies now building up a New York presence. Plaid Technologies Inc., which connects various apps to customers’ bank accounts, has relocated or hired more than 100 people in the city over the last year, or about a quarter of its staff. Affirm Inc., the lending startup founded by former PayPal Holdings Inc. co-founder Max Levchin, also recently opened up a Manhattan office that has about 50 employees, the company said. And Brex Inc., the business credit card startup most recently valued at $2.6 billion, has permanently relocated its chief financial officer to Midtown, according to a person familiar with the matter who asked not to be identified discussing information that’s not yet public.In some ways, the moves are natural for tech startups with financial ambitions. Despite the growing success of fintech upstarts hailing from San Francisco, Wall Street institutions remain on top of the financial world, and New York offers an appealing pool of potential hires. Uber Technologies Inc., for example, announced the creation of a new unit called Uber Money in October, and will be shopping for fintech talent in and around Manhattan, according to a CNBC report. At Affirm, the company’s New York employees’ resumes are littered with names like Morgan Stanley and Goldman Sachs Group Inc.Often, financial technology companies that are just getting started set up shop in San Francisco to be close to tech workers with experience designing products at big companies, said Mark Goldberg, a partner at Index Ventures. San Francisco's resident tech giant include Uber, Lyft Inc., Twitter Inc. and Airbnb Inc. But “what they don’t understand is the industry,” he said, adding that eventually, many fintech companies look eastward for hiring. “What I think happens is that companies that start on the West Coast end up recognizing that they want to compliment that DNA with capital market expertise, and with people that have been in and around banks.”Meanwhile, tech epicenter San Francisco has become less hospitable for some companies. Last year, voters passed a new tax on businesses that will go to fund homelessness relief efforts, and taxes financial services companies at a higher rate than other types of businesses. Stripe’s decision to leave the city was widely regarded by local officials as related to the passage of the new tax. The company, which strongly opposed the measure, denied that taxes were a major factor in the decision to move.Stripe instead pointed to the limited office space in San Francisco. The city’s asking prices for commercial rent, which are the highest in the nation, climbed 7% over the last year to record levels in the third quarter, according to real estate firm Cushman & Wakefield. And adding to the region’s woes: In recent months fires caused widespread power outages in homes around the Bay Area.Still, none of fintech unicorns Bloomberg spoke to have plans to move their headquarters away from the West Coast. Stripe, while hiring a few hundred people in New York, currently has more than 1,000 employees in Silicon Valley. Affirm’s San Francisco office is many times larger than its Manhattan outpost. And New York-based financial services startups tend to have stubbornly lower valuations than their high-flying West Coast counterparts.For Plaid, New York is a homecoming of sorts. The startup left the city in 2013 after winning TechCrunch’s Disrupt New York Hackathon, and, seeking proximity to engineers and investors, moved its headquarters to San Francisco. “Us coming back and building a really big presence is a strong signal for NYC tech, which has made huge strides in terms of client base, talent, and funding,’’ said Charley Ma, Plaid’s New York City growth manager, who moved from the West Coast for the job last fall. Plaid’s chief executive officer, however, will remain in San Francisco.(Corrects location of early headquarters in first paragraph.)To contact the author of this story: Julie Verhage in New York at email@example.comTo contact the editor responsible for this story: Anne VanderMey at firstname.lastname@example.org, Mark MilianFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Coupa Software's (COUP) third-quarter fiscal 2020 results benefit from robust adoption of Coupa BSM and market traction of Coupa Pay offerings.
The Zacks Analyst Blog Highlights: Procter & Gamble, Thermo Fisher, PayPal, NextEra Energy and Enterprise Products
Founded back in 1979, when it acted as a floor broker on the New York Stock Exchange, Rosenblatt Securities has grown and adapted, becoming a major figure in the agency brokerage niche and the largest single broker on the NYSE floor. Analytics and research are key to success in investment banking and floor trading. After all, it’s impossible to know the right market moves without knowing what’s happening behind the scenes of potential equity investments. Rosenblatt’s market research arm delves into the depths, finding out what makes stocks tick, so the firm’s clients can make the best-informed decisions.Today, we’ll look at Rosenblatt’s annual report, entitled "Our Top Core Holdings Ideas to Celebrate Rosenblatt's 40th Anniversary," to outline the firm's ‘top picks.’ These stocks picked out by top-rated analysts and investors should take note.Specifically, we'll take a look at three stocks that are more purely tech-oriented, that have changed the game in their particular niches, and brought impressive gains to investors. Adding to the good news, TipRanks’ Stock Screener shows that each has racked up enough analyst support in the last three months to earn a “strong buy” consensus rating.Let's take a closer look and see why these stocks truly are top picks:Splunk (SPLK)As if to underscore the importance of data analysis, Splunk is first on our list here. This San Francisco-based software company offers products that monitor, search, and analyze the machine generated big data, indexes and correlates the results, and makes the whole available to customers through a browser-style interface. In short, Splunk makes it easy for its customers to use all of their accumulated information. In recent years, Splunk has also begun offering software products for security analytics and Internet of Things applications.Businesses need Splunk’s products, and that need has powered Splunk’s success. The company’s EPS, at 58 cents, beat the estimate by a significant margin and was also 52% higher than the year-ago quarter. Revenues were strong, too, and at $602 million showed a 29% year-over-year gain. With fast growth rates like those, you won’t be surprised to learn that SPLK is up 44% in 2019.5-star Rosenblatt analyst Yun Kim reviewed SPLK and came away deeply impressed. In a list of reasons to own shares in the company, he wrote, “[Splunk is the] emerging de facto enterprise standard in IT, along with the likes of CRM, ORCL, SAP and MSFT... It is at the foundation of the current data-driven digital transformation secular trend… We also note that SPLK closed 24 $10M+ deals last year and 10 such deals two years ago, indicating more of its customers are adopting SPLK as its enterprise standard.”A growing industry consensus that Splunk is the way forward for data aggregation, combined with an increasing number of major sales, led Kim to give SPLK a Buy rating and a $200 price target – suggesting an impressive 32% upside. (To watch Kim's track record, click here)Kim’s bullish stance on Splunk is in line with Wall Street’s view. SPLK has a Strong Buy consensus rating, based on no less than 25 Buy ratings set in recent weeks. Shares are trading for $149.37, and the stock’s recent strong gains have pushed that price close to the average price target of $158.43, leaving a modest 6% upside. If Splunk continues to perform, expect the analysts to adjust the target upwards. (See Splunk stock analysis on TipRanks)PayPal (PYPL)PayPal’s impressive growth has been powered by its domination of the payment processing niche. The company has turned digital payments into the preferred method for online transactions, helping move along the dramatic expansion of e-commerce in recent years. The rewards have been substantial: in fiscal 2018, PayPal saw more than $15 billion in revenues, and over $2 billion in net profits. For 2019 the stock has gained 28%, even after slipping from its peak price in July. This gives PayPal a 3-point advantage over the S&P 500’s year-to-date growth.A look at the company’s Q3 report will show some details of the growth. Total payment volume, a key metric of the value of transactions put through PayPal’s system, rose to $178.67 billion, growing 25%. Revenue was up 19% to $4.38 billion, and EPS showed an 8% year-over-year gain to 39 cents. But the best news for investors was the revision to full-year 2019 EPS. The company bumped it up to $3.07, 3.3% higher than the Street’s expectations. Growth in every metric, and plenty of share price appreciation make PYPL a winner for investors.5-star Rosenblatt analyst Kenneth Hill sees room for an additional 18% upside in PYPL shares. Hill points out several of PayPal’s positional advantages: “Best-in-class, two-sided ecosystem with PayPal’s and Venmo's more than 275mn active Consumer accounts and 24mn Merchant accounts… Clear path ahead to increasing Venmo monetization from Pay with Venmo and Venmo Debit/ Credit, in addition to Instant Transfer… Long-term potential to be a first mover in Asia… complimenting efforts in Europe and Latin America…”Hill sees PayPal with a strong competitive advantage, and puts a $128 price target on the stock to compliment his Buy rating. (To watch Hill's track record, click here)Wall Street generally agrees with Hill. PayPal’s Strong Buy consensus rating is based on 22 Buys, and only 3 Holds. The average price target, $125.86 suggests that PYPL still has room for 16% growth. (See PayPal stock analysis on TipRanks)RingCentral (RNG)The emergence of cloud computing has brought sea-changes to every imaginable niche in the business world. RingCentral has connected it to the world of communications, providing software solutions to combine office computer and telephone systems. The company’s core product, RingCentral Office, is compatible with other popular applications like Salesforce, Outlook, Google Docs, and DropBox, while providing unique features in call forwarding, multiple telephone extensions, video conferencing, and screen sharing. In short, RingCentral lets customers link and control all of their office communication systems.In Q3, RingCentral posted EPS of 22 cents, beating both the analyst consensus and the year-ago number by 15%. The company’s stock has surged in recent months, bringing its year-to-date gain up to 108% – RNG has more than doubled in value in 2019, and the year’s not over yet. A couple of additional numbers from the recent quarter make it clear why RNG has gained so much. The company’s software subscription increased 33% year-over-year, to reach $210.9 million, while revenues grew to $233.4 million. And while the company was posting this growth, it was also boosting R&D expenditures by 30%.Analyst Ryan Koontz wrote up Rosenblatt’s note on RingCentral, summing up the bottom line in a clear, bullish stand. He wrote, “While RingCentral’s products are strong and arguably the best in the industry, we are most impressed with RingCentral’s commanding go-to-market strategy and execution. The company has built an industry leading team... RingCentral is the largest UCaaS vendor in the market and has continued to take share, growing revenues faster than all of its major competitors.” Koontz was especially cognizant of RingCentral’s new strategic partnership with Avaya, a leader in contact center technology. The joint endeavor was announced this past October and has generated great excitement in the industry.Koontz puts a $210 price target on RNG shares, implying a 22% upside to the stock. Wall Street is in general agreement with his stance, although more conservative on the price target. RNG’s Strong Buy analyst consensus is built from 14 Buy ratings and a single Hold, while the $186 average price target is 8.6% higher than the current $171 share price. (See RingCentral stock analysis on TipRanks)
Coupa Software's (COUP) Q3 performance is likely to have gained from an expanding customer base, backed by sturdy adoption of Accelerate and virtual cards for POs.
Shares of oil services company Halliburton Company (NYSE: HAL) are trading nearly 20% behind the average Wall Street price target, while financial payments company Paypal Holdings Inc (NASDAQ: PYPL) slightly trails behind at 16%. The oil sector as a whole has "badly underperformed" the broader market, Maley said. Halliburton in particular is showing signs of life on a technical basis, Maley said.
Four years ago, PayPal set out to break the Guinness World Record for the most money raised online for charity in 24 hours. Donors gave more than $45.8 million to charities via the payment platform during #GivingTuesday, the annual charitable campaign on the Tuesday after Thanksgiving. The philanthropic movement that coalesced around #GivingTuesday started in 2012, spurring donations so far of more than $1 billion in the United States alone.
Dow Jones payment giant Visa has plenty of room to grow in electronic payments. Here is what the key fundamentals and technical analysis say about buying Visa stock now.
Skrill has announced a new crypto-to-crypto buy and sell service for its users. After launching a fiat-to-crypto on-ramping feature for users of its payment platform last year, this latest move represents a further reach into the cryptocurrency space for the London-based payments firm. With the introduction of crypto-to-crypto transfers, Skrill users will have access to […]
Despite all of its growth, PayPal (NASDAQ:PYPL) has a slight problem. It used to have the digital wallet and online payment market all to itself. But these days, PYPL is facing some pretty big competition from a variety of start-ups and even traditional banks. Getting its mojo back and fighting off that competition are its main concerns.That is why PayPal's acquisition of Honey is a pretty sweet deal for PayPal.While Honey may not be well-known to many investors, its user base is constantly growing and it fills an important niche in PayPal's ecosystem. That is, Honey, which enables its customers to find deals, will enable PayPal to interact with consumers before they process their payments, As a result, PayPal will be able to hook them in early and funnel them into its system.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe Honey acquisition makes a ton of sense for PayPal stock because it will enable the company to fight off much of the competition that's now eating away at PYPL's market share and revenue, thereby undermining PYPL stock. In the end, PayPal's biggest acquisition to date is going to be one honey of a deal. * 7 Stocks to Buy in December PayPal's Growing ProblemsCompanies know they're doing well when everyone starts copying them and offering similar services. That's been the case for PayPal. It basically designed the online digital wallet and peer-to-peer payment markets. That first-mover status has been wonderful for PayPal's bottom line for years now. Perhaps it's been too good.These days, competition runs deep in the digital payment space. Companies like Stripes and Square (NYSE:SQ) have moved into payment processing and peer-to-peer payments, while companies like Apple (NASDAQ:AAPL) have built digital wallets directly into their hardware.And threats continue to mount for PayPal stock.Social media giant Facebook (NASDAQ:FB) recently unveiled its new Facebook Pay application. Facebook Pay allows users to directly pay individuals and businesses across FB's entire ecosystem.Facebook users who see something they like on Facebook Marketplace can now instantly buy it from a seller. And with Instagram now basically becoming a shopping app, integrating direct payments eliminates a step in the buying process.All of this is a huge problem for PYPL stock, as PayPal was traditionally the facilitator of all of these transactions. And while its revenues and volumes haven't been hurt just yet, some cracks in PayPal's armor are starting to emerge. For example, on Apple's last conference call, Apple CEO Tim Cook mentioned that the number of Apple Pay transactions exceeded PayPal's and that Apple Pay was growing nearly four times as fast as PayPal. Honey to The RescueWith mobile payments being such a huge part of its current and future revenues, PayPal had to do something to keep its leadership position entrenched. So, it turned to a relatively unknown start-up , Honey,to do just that.Honey's basic M.O. is helping consumers save money on various e-commerce transactions. It offers a suite of price-tracking tools, coupon codes and a rewards program called Honey Gold. The rewards program provides cash back to Honey's users. All of that is done via mobile devices, the traditional web or automatically through a Chrome browser extension.Here's where it gets interesting for PayPal. By buying Honey, PYPL can basically move ahead of the line and into the deal discovery stage of shopping. And once consumers find those deals, their default choice for paying for them will be PayPal's system.That could be particularly lucrative for PayPal, since a main feature of Honey's mobile app allows consumers to load a shopping cart with multiple retailers' items and pay for them all at once. By using PayPal's OneTouch authorization or its Venmo payment system, consumers would be able to pay for the products offered by Honey very easily.On the flip side, Honey will help PayPal's merchant partners as well. Those 24 million merchants now will have the ability to publicize targeted, more personalized promotions and incentives to Honey's users, enabling the businesses to attract more consumers. That could be a great way to increase their sales. Meanwhile, PayPal will get a cut of both the advertising/promotion charge and the payment processing fees.And when looking at PayPal's user base of nearly 300 million, the acquisition makes a ton of sense. Right now, Honey has only 17 million users. By increasing its size and making it available to all PYPL users, PayPal will create a cycle of more deals,higher payment volumes and continued growth for itself.Most importantly, Honey gives PayPal an edge over its rivals and creates an enclosed shopping ecosystem and a huge competitive advantage that will help it prevent further market share losses. The Honey Acquisition Will Be Great for PayPal StockLooking at the digital payment environment, one thing is clear: Every firm is trying to offer a closed system that locks in users. By buying Honey, PayPal is now essentially doing that. Honey's app will allow PYPL to jump into the front of the line, hook consumers in with deals, facilitate payments and reward them for their shopping. That will keep them coming back for more discounts and keep them in PayPal's system.For the owners of PayPal stock, that is wonderful news because the deal will help PYPL fight some of the rising competition that it now faces.Ultimately, the $4 billion price tag may seem like a drop in the bucket over the long haul as Honey is integrated and the cycle gets cooking. So the deal gives investors a new reason to be bullish on PayPal stock.At the time of writing, Aaron Levitt did not hold a position in any stock mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy in December * 7 Unsteady Stocks Investors Should Consider Selling Before 2020 * 7 Entertainment Stocks to Buy to Escape Holiday Blues The post PayPalas Sweet Deal Will Lift PayPal Stock appeared first on InvestorPlace.
Discover Financial (DFS) collaborates with PayPal to offer its cardmembers a rich suite of benefits and experiences for redeeming rewards.
U.S. stocks once again closed at an all-time high on Tuesday. As has been the case for most of the past few months, the gains weren't exactly torrid, with the three major indices increasing roughly two-tenths of a percentage point. Still, optimism reigns heading into the holidays.Source: Shutterstock But not every stock has joined in the rally. Wednesday's big stock charts highlight three of those names. All three sit well off 52-week highs, and actually have weakened in recent months while the rest of the market has gained. * 7 Stocks to Buy in December A reversal isn't guaranteed, or necessarily likely, for each of these stocks. But should positive market sentiment hold, they could be targets for investors looking for value in an increasingly expensive market. At the very least, these big stock charts suggest potentially big moves at the end of the year and into 2020.InvestorPlace - Stock Market News, Stock Advice & Trading Tips PayPal Holdings (PYPL)Source: Provided by Finviz One curious aspect of the recent rally is that payment stocks like PayPal (NASDAQ:PYPL) have been mostly left out. But that may change. The first of Wednesday's big stock charts shows a recent bounce that sets up a potential breakout: * PYPL stock has exited its downtrend and made a bullish reversal out of a descending narrowing wedge. The 20- and 50-day moving averages have been cleared. And volume has picked up in recent sessions. The 200-day moving average is the last potential source of resistance to a breakout; that aside, the chart here looks exceedingly bullish from a near-term standpoint. * Again, PYPL stock hasn't been alone in underperforming. Payment stocks have been among the market's best the last few years: PayPal stock, for instance, has nearly tripled in the last five years. More recent trading has been softer. Visa (NYSE:V) and Mastercard (NYSE:MA) have traded sideways for the past few months. Square (NYSE:SQ) bounced along its lows. There are signs of life, however. SQ stock has rallied and MA stock is challenging all-time highs reached in early September. * It wouldn't be surprising to see PYPL stock (and potentially V stock) follow those peers. The sector should in theory do well in a bull market, as it has for the past decade. A 30x forward earnings multiple for PayPal stock isn't cheap, but it's reasonable in the context of the 14% profit growth expected next year. Certainly, there are stocks posting lower growth with higher multiples, as Tuesday's big stock charts showed. In that context, the case for a breakout in PYPL looks even stronger. Macy's (M)Source: Provided by Finviz Intrepid investors have been willing to step into the steep decline in Macy's (NYSE:M) stock in recent months. Support has held on several occasions above $14. M stock has rallied in recent sessions after selling off last week following disappointing earnings from rival Kohl's (NYSE:KSS) and its own subpar third quarter release. But the second of Wednesday's big stock charts shows that support is getting weaker: * The multiple bottom in M stock usually would be considered bullish, as support has held repeatedly. But the lower highs create a descending triangle, which creates an increased risk that Macy's stock will break through that support. The long-term chart is even weaker, showing a steady and concerning pattern of lower highs and lower lows, at least until the last few months. * To be sure, Macy's stock seems almost absurdly cheap, at less than 6x this year's consensus earnings per share estimate. A nearly 10% dividend yield seems to add to the value case. But Q3 earnings were notably weak, and included the company's second guidance cut this year. Commentary on the Q3 earnings call seemed to imply that the payout could be cut. If earnings are headed for a permanent decline, even a multiple under 6x isn't cheap enough. After all, Macy's stock has looked cheap for years, but touched a post-crisis low in August. * And so the case for M stock seems to come down to its real estate. A partnership with Brookfield Asset Management (NYSE:BAM) sparked optimism earlier this year. Hedge fund Starboard Value pushed for real estate joint ventures in early 2016 before exiting its position the following year. If investors see value in the real estate, have trust in management, and stay as bullish as they've been of late, perhaps M stock finally can rally. That does seem like quite a few 'ifs,' however. Iron Mountain (IRM)Source: Provided by Finviz Fundamentally, data storage real estate investment trust Iron Mountain (NYSE:IRM) looks like a steal. 2019 guidance for adjusted funds from operations (AFFO), a common measurement of REIT profits, suggests a roughly 11x P/AFFO multiple. A 7.5% dividend yield looks attractive as well.But the third of our big stock charts does suggest near-term weakness, and looking closer there are fundamental concerns: * Tuesday's decline pushes the stock out of an ascending narrowing wedge -- a classically bearish signal. IRM stock also broke through its moving averages, which leaves little in the way of near-term support. With resistance holding at $34, there's not much case for jumping in just yet. * Fundamentally, it's true that IRM stock is cheap. But there are real risks here. Increasing digital storage limits the demand for Iron Mountain's services. A plan to pivot to data centers has moved slower than hoped. Ian Bezek last month called IRM stock a potential dividend trap, and he makes a good case. * And so there's clear downside risk. A bull market might give IRM stock a reprieve, and better news on the data center front could change the narrative. Still, at the very least, investors might want to wait for a better entry point.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy in December * 7 Unsteady Stocks Investors Should Consider Selling Before 2020 * 7 Entertainment Stocks to Buy to Escape Holiday Blues The post 3 Big Stock Charts for Wednesday: PayPal, Macy's, and Iron Mountain appeared first on InvestorPlace.
Award winning actor and activist Bill Porter partnered with PayPal this holiday season, as part of their Giving Tuesday initiative to give back. Yahoo Finance’s Adam Shapiro sits down with Billy Porter on On The Move to discuss the partnership.