PayPal (PYPL) Apps 'Surprisingly' Strong Among Teens - Piper Sandler

April 7, 2021 12:26 PM EDT
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Price: $267.21 -2.98%

Rating Summary:
    46 Buy, 7 Hold, 1 Sell

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Today's Overall Ratings:
    Up: 18 | Down: 8 | New: 31
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Piper Sandler analyst Christopher Donat said the strength of PayPal (NASDAQ: PYPL) apps in its 41st semi-annual Taking Stock With Teens Survey "surprised us."

Donat noted that Venmo ranked #1 with teens who have used a payment app in the last month.

"Venmo’s 47% penetration rate was complemented by the 34% penetration of PayPal Mobile Cash," the analyst commented.

Further, PayPal was the leading offering for 'buy now pay later' among teens with 33% penetration.

The analyst reiterated an Overweight rating and $300.00 price target on PYPL.

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 $253.19 yesterday.

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