New PayPal (PYPL) Features Likely to Push Increased Engagement - Morgan Stanley

July 26, 2021 6:33 AM EDT
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Price: $278.99 -0.04%

Rating Summary:
    47 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 1 | New: 22
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Morgan Stanley analyst James Faucette reiterated an Overweight rating and $337.00 price target on PayPal (NASDAQ: PYPL) expecting a strong earnings report as the company maintains its leadership in a still strong ecommerce environment and continues to push increased engagement
with new features.

The analyst stated "PayPal's new product rollouts, namely Pay in 4, in-store QR codes, crypto-trading, and the Venmo credit card have launched and we expect mgmt will give another positive update on early adoption metrics. Qualitative feedback on uptake will be a key area of investor focus, along with an update on the 3Q app revamp and services yet to be formally announced like high-yield savings and stock investing. In 1Q, PayPal's BNPL solution delivered $1 billion in volume, and had 3.3M consumers using it and 330K merchants offering it. Importantly, 50% of BNPL users are making a repeat Pay in 4 transaction within 3 months and half of PayPal's crypto users open their app every day."

For an analyst ratings summary and ratings history on PayPal click here. For more ratings news on PayPal click here.

Shares of PayPal closed at $308.53 yesterday.

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