What's Going On With PayPal Stock?
Portfolio Pulse from Ryan Gustafson
PayPal Holdings, Inc. (NASDAQ:PYPL) shares rose over 2% on Monday, adding to gains from the last month. In June, KKR-managed funds agreed to purchase up to €40 billion ($43.6 billion) buy now, pay later (BNPL) loan receivables originated by PayPal in several European countries. PayPal also launched Tap to Pay on Android for Venmo business profile users in the U.S. The company received several price target changes from analysts in June, ranging from $72 to $92.
July 03, 2023 | 7:06 pm
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PayPal's stock rose following the announcement of KKR-managed funds purchasing its BNPL loan receivables and the launch of Tap to Pay on Android for Venmo users. Analysts' price target changes also likely influenced the stock's performance.
The rise in PayPal's stock can be attributed to the positive news of KKR-managed funds purchasing its BNPL loan receivables and the launch of a new feature for Venmo users. Additionally, the changes in analysts' price targets for the company likely influenced investor sentiment, contributing to the stock's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100