PayPal (PYPL) PT Raised to $375 at Mizuho Securities
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Mizuho Securities analyst Dan Dolev raised the price target on PayPal (NASDAQ: PYPL) to $375.00 (from $350.00) while maintaining a Buy rating.
The analyst commented, "Is PayPal becoming the ultimate financial "super app" that "transcends across payments, commerce and financial services"? We at Mizuho and CEO Dan Schulman believe the answer is yes.
But what does a global financial super app look like? The future of PayPal as a super app was on display in 4Q20 as app login doubled for Bitcoin traders, with QR and BNPL driving halo effects in terms of incremental TPV.
We expect the strong 4Q results that were marked by 40% TPV growth ex. eBay and upbeat 2021 guidance will create a pleasant setting for next week's analyst day. Raising medium-term estimates and PT to $375."
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