116.90 -0.08 (-0.07%)
After hours: 7:07PM EST
|Bid||116.88 x 800|
|Ask||116.90 x 1000|
|Day's Range||116.51 - 119.57|
|52 Week Range||86.62 - 121.48|
|Beta (5Y Monthly)||0.94|
|PE Ratio (TTM)||54.92|
|Earnings Date||Jan 28, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||129.24|
Look for PayPal's Venmo person-to-person payment service to emerge as a meaningful revenue contributor in 2020 and to turn profitable a year later, says a Credit Suisse analyst.
Weakness in the components industry due to macroeconomic downsides and sluggish Farnell business affect Avnet's (AVT) second-quarter fiscal 2020 results. However, cost-saving efforts are a breather.
PayPal stock has rebounded ahead of earnings due out late Jan. 29. Analysts expect updated 2020 guidance to include the $4 billion acquisition of consumer app Honey and Venmo services.
The Dow Jones recovered impressively along with the Nasdaq and S&P; 500 after the WHO issued a calming statement regarding the coronavirus outbreak.
Futures: After Wednesday's stock market rally pause, Texas Instruments, Teradyne, Citrix moved on earnings. PayPal and Paycom Software rose on other news.
Shares of PayPal Holdings Inc. are up 2.1% in premarket trading Thursday after the company announced a partnership with China's UnionPay International. Through the arrangement, which was announced in a late Wednesday release, more than 120 million UnionPay cardholders in China will be able to create new PayPal accounts and use the wallet for cross-border commerce. "While we have always maintained a muted enthusiasm for domestic payments opportunity in China because of formidable competition...we view this partnership (which is primarily cross-border in nature) as very synergistic for both PayPal and UnionPay- if executed well," wrote Bernstein's Harshita Rawat, who rates PayPal's stock at outperform with a $130 target price. Keefe, Bruyette, and Woods analyst Sanjay Sakhrani wrote that the arrangement is "a nice win which leverages the recent GoPay acquisition that gave PayPal access to payment licenses in China." He has an outperform rating and $146 target price on PayPal shares, which are up 20% over the past three months as the S&P 500 has added 11%.
PayPal shares were higher on Thursday after the online-payments company formed a partnership with UnionPay of Shanghai.
(Bloomberg) -- PayPal Holdings Inc. is taking another step into the giant Chinese payments market, partnering with state-backed China UnionPay Co. in a move that could expand PayPal’s network in the country. The partnership will allow some UnionPay cardholders access to PayPal’s network, and eventually, could pave the way for PayPal to be accepted at Chinese locations that take UnionPay.Users of Shanghai-based UnionPay, the world’s largest card company by payment volume, will be able to add their UnionPay cards to PayPal accounts and use them in a number of countries where PayPal is accepted outside of China. “There is a lot of room for us to help people visiting from China find a way to pay while traveling,” Jim Magats, senior vice president of global payments at PayPal, said in an interview.The companies also said that the tie-up would allow PayPal and UnionPay’s global subsidiary, UnionPay International, to “explore opportunities” to expand PayPal’s reach in China. In a statement, Magats said the new partnership would give the company the option to “expand PayPal’s digital wallet to physical retail locations where UnionPay is accepted in China, or internationally.”The UnionPay partnership is part of a string of moves by PayPal to grow its Chinese presence. In September, China’s central bank granted PayPal approval to buy a 70% stake in a Chinese payment company Gopay Information Technology Co., allowing PayPal to become the first foreign compapny to operate in China’s payment service market. Gopay has licenses for online, mobile and cross-border yuan payment services.China’s $27 trillion payments industry is dominated by a few companies, with Ant Financial Services Group and Tencent Holdings Ltd. accounting for a majority of digital payments, according to Bloomberg Intelligence. However, in a recent interview with Bloomberg, PayPal Chief Executive Officer Dan Schulman said that it wasn’t too late for the company to stake a claim there. “It’s an exploding market,” he said. “It’s growing so quickly that there’s room for every player in it.”On Wednesday, UnionPay cards will be available to be added to PayPal wallets in Australia, the Philippines, Singapore, South Korea and Thailand. The companies said they plan to add the option for more than 30 other markets in 2020.To contact the reporter on this story: Julie Verhage in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Mark Milian at email@example.com, Anne VanderMeyFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
UnionPay International (UPI) and PayPal (NASDAQ: PYPL), today announced a global partnership where both companies will work together to accelerate the growth of their networks. As part of the agreement, PayPal has committed to supporting UPI acceptance globally where PayPal is accepted – giving UnionPay cardholders more choice when shopping. In the future, UPI will explore opportunities to support PayPal's merchant and consumer ambitions in China.
Paypal (PYPL) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The appointment comes about six months after ThoughtSpot nearly doubled its valuation to $1.95 billion in a $248 million funding. It also hit an annual run rate last year of about $100 million, another customary prerequisite to a tech IPO.
Yahoo Finance chats with PayPal CEO and Salesforce co-CEO Keith Block about shareholder capitalism on the sidelines of the 2020 World Economic Forum.
One exception to this, though, is discount giant Five Below Inc (NASDAQ: FIVE). Revenue growth in recent years has been nothing short of explosive. Net income more than tripled over this time frame, rising from $48 million to $149.6 million.
Top digital payments stock PayPal is one of the leading growth stocks in the current stock market. But is it a buy right now?
If you think the time is right to buy fintech company or payment stocks, these investment tools will help as digital technology and new entrants change the industry's competitive landscape.
The major stock indexes were squarely higher early Thursday on strong U.S. retail sales. Top stock Tesla skidded 5% on an analyst downgrade.
PayPal Holdings, Inc. (NASDAQ: PYPL) today announced that it processed a record $10.3 billion in donations to charities around the world in 2019, and more than $1 billion in the month of December alone, as mobile and other digital channels continue to change how donors engage with nonprofit organizations. Twenty-one percent of all donations processed by PayPal in 2019 were made through mobile devices.
(Bloomberg) -- After last year’s deluge of financial technology megadeals, investors wondered if the boom could continue into 2020. This week, Visa Inc.’s $5.3 billion acquisition of Plaid Inc. offered an answer: Yes. “Visa buying Plaid brings fintech from out in the wild to something more mainstream,” said Bain Capital Ventures’ Matt Harris. “It’s a ‘growing up’ moment for all of us,” he said, adding that the startup will now be part of the “critical infrastructure underlying the financial services industry.”Plaid’s rapid ascent—Square Inc. looked at buying it in 2018 for just a fifth of the eventual selling price—comes as large companies look to expand their offerings, and contend with fast-growing digital competition. In November, PayPal Holdings Inc. snapped up online coupon company Honey Science Corp. for $4 billion. Charles Schwab Corp. acquired TD Ameritrade Holding Corp. for $26 billion. And Fiserv Inc., Fidelity National Information Services Inc. and Global Payments Inc. did a series of major deals in 2019 that remade the corporate landscape of payment processing.Today there are nearly 60 financial technology startups valued at more than $1 billion, according to data from CB Insights, a research firm. Many are now acquisition targets, analysts say. Those include smaller players like SoftBank Group Corp.-backed unicorn Kabbage Inc., as well as giants like Stripe Inc., most recently valued at $35 billion, a price tag that makes it one of the world’s largest startups. Sanford C. Bernstein & Co. analyst Harshita Rawat, said in a note that Fiserv and PayPal could be potential bidders for Stripe.Ryan Caldwell, chief executive officer of financial data company MX Technologies Inc., suggested the Visa deal could trigger a domino effect in the industry. “The space tends to heat up when there's been one acquisition,” Caldwell said, adding that larger companies were increasingly aware of fintech’s potential. “A lot of these players definitely need to partner,” he said.Satya Patel, a partner at venture capital firm Homebrew, which was a Plaid investor, said he didn’t expect a bonanza for VCs. “As an active fintech investor, I’d like to think that its acquisition is a sign of things to come,” but added that for every Plaid there will be many more startups that are bought for much less, or go out of business. While companies like Plaid and Stripe deal with the plumbing of fintech, would-be acquirers may also seek out consumer-facing financial startups. In the consumer world, “a re-bundling of financial products is underway,” Patel said. Analysts have speculated that future potential acquisitions could involve some of the new payment plan and lending services, such as Affirm Inc., Afterpay and Klarna Bank AB.“The alternative lending space feels ripe for consolidation,” said Lisa Ellis, an analyst at MoffettNathanson. These firms would make sense for “possibly PayPal or Square, since they have alternative lending businesses already and these would extend those, even banks like a Discover,’’ she said.The rising crop of digital-first alternative banks, or “neo-banks,” saw big investment last year, and may also see an uptick in deals. Digital banking startups like Chime Inc., Revolut Ltd., N26 and Dave Inc. fall into this category. Because many of them have similar business models, experts believe the industry could be ripe for buyouts.“The neo-bank space will probably consolidate at some point,’’ Ellis said. “Many firms are burning cash just trying to buy and acquire customers.” But that might not happen right away. Said Ellis: “The valuation bubble has to pop a bit for that group to be acquired.”(Adds investor quote in sixth paragraph. )\--With assistance from Jennifer Surane.To contact the author of this story: Julie Verhage in New York at firstname.lastname@example.orgTo contact the editor responsible for this story: Anne VanderMey at email@example.com, Mark MilianFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
PayPal stock made its bones by creating an online system for routine digital payments by its customers. But PayPal hopes to go well beyond that.
Fundstrat Global Advisors Managing Partner & Head of Research Tom Lee joins On The Move to discuss his top picks of companies that will do well in the markets in 2020.