Despite Apple Pay's Impact, PayPal's Growth Prospects Remain Strong: Analyst
Portfolio Pulse from Anusuya Lahiri
Mizuho analyst Dan Dolev maintains a Buy rating on PayPal (PYPL) with a reduced price target of $72, citing strong growth prospects despite competition from Apple Pay. Dolev notes PayPal's web traffic share from Temu has decreased in October, but remains optimistic about PayPal's potential to integrate PayPal and Venmo into a global digital wallet. He forecasts Q3 revenue and EPS slightly above prior estimates but below consensus, and Q4 revenue above consensus with EPS slightly below prior estimates.
November 14, 2023 | 7:38 pm
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POSITIVE IMPACT
PayPal maintains a Buy rating with a reduced price target of $72. Growth prospects remain strong despite Apple Pay's impact, with potential in PayPal-Venmo integration.
Despite the competition from Apple Pay and a decrease in web traffic share from Temu, the analyst's positive outlook on PayPal's future growth and the integration of PayPal and Venmo platforms suggest a potential upside for the stock.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Apple Pay continues to impact PayPal's Branded Checkout share, but PayPal's growth prospects remain strong according to Mizuho analyst Dan Dolev.
Apple Pay's impact on PayPal's checkout share is noted, but the article focuses more on PayPal's strategies and growth prospects rather than on Apple's direct influence on the market.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50