#2 - PayPal (NASDAQ:PYPL)
During the pandemic more businesses and consumers turned to digital payment processors like PayPal (NASDAQ:PYPL) to conduct business. This is honestly one of the big bank’s worst nightmares because for those who use PayPal, it’s becoming a lot closer to a full-service bank than some may realize. Technology is catching up, but PayPal is managing thus far to stay one step ahead.
One way the company is doing this can be seen its acquisition of the shopping and awards platform, Honey. The $4 billion acquisition was PayPal’s largest ever, but it looks to pay off in a key way. For the first time, PayPal can be part of the customer’s complete purchase journey instead of being simply the way to pay for it at checkout.
PayPal may be an ideal stock to own if we are indeed moving closer to a cashless society. When PayPal reported earnings in May, the company said their user base was up over 20% on a year-over-year basis.
About PayPal
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.
Read More - Current Price
- $66.98
- Consensus Rating
- Hold
- Ratings Breakdown
- 13 Buy Ratings, 24 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $72.73 (8.6% Upside)
