40.22 -0.05 (-0.12%)
After hours: 7:52PM EST
|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||40.02 - 41.13|
|52 Week Range||13.84 - 49.56|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 20, 2018 - Feb 26, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||40.36|
Yahoo Finance's Jared Blikre joins Seana Smith from the floor of the New York Stock Exchange to discuss the latest bank earnings from Morgan Stanley and Bank of New York Mellon.
While PayPal (PYPL) has talked about its customer acquisition rate gaining momentum after it decided to partner with card companies Visa (V) and MasterCard (MA), this boost may just be a beneficial side effect of the partnerships. PayPal went into partnership with Visa and MasterCard with specific goals in mind, namely to enable customers to pay any way they want. At the Credit Suisse 21st Annual Technology, Media & Telecom Conference, PayPal CFO (chief financial officer) John Rainey said, “What the network agreements did for us, though, was fundamentally, they’re all about providing our customers choice to allow them the way they – to transact however they want,” adding that “if they want to use a Visa card or a MasterCard or a particular issuer card, they can do that.
PayPal’s (PYPL) sale of its ~$6.0 billion consumer loan portfolio to Synchrony Financial (SYF) doesn’t mean that it is exiting the credit business. PayPal made it clear in its announcement that although Synchrony was purchasing its US (SPY) consumer loan business, it expects to remain in the credit business through its international operations.
PayPal Holdings Inc (NYSE:PYPL) has been one of the biggest winners in this secular bull market. PayPal stock has nearly doubled over the past year. As more and more consumers go digital with their payments, digital payment solutions providers like PayPal and Square Inc (NYSE:SQ) have soared.
At the Credit Suisse 21st Annual Technology, Media & Telecom Conference, PayPal (PYPL) chief financial officer John Rainey discussed a wide range of issues, including payment digitization. Rainey cited secular trends in the payment market to show that PayPal may have tremendous growth opportunities ahead. Rainey discussed the shift to mobile and the growing number of consumers starting their shopping trips on mobile devices.
Paypal Holdings Inc (NASDAQ:PYPL) is at the center of several favorable trends. For one, digital payment companies are among the hottest tech plays out there today. Two, its Braintree subsidiary started accepting bitcoin payments in 2014, which makes PYPL stock a backdoor crypto play.
A little less than a month ago, I suggested new entries into Square Inc (NYSE:SQ) were a bad idea. While the company is actually doing quite well, Square stock itself appeared to be toying with a sizable pullback. Then just a few days later, proving that nothing is ever etched in stone, Square stock also flight.