PayPal (PYPL) Remains Top Payment App and BNPL Service for Teens, Piper Survey Shows
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Piper Sandler's latest Taking Stock with Teens survey showed PayPal (NASDAQ: PYPL) is the leading teen app for payments and Buy Now Pay Later (BNPL).
"We think PayPal’s leading position with teens for payments and buy now pay later sets the stage for future growth in active users and payment volume," the firm said. "PYPL’s Venmo again ranked #1 with teens who have used a payment app in the last month. Venmo’s 41% penetration rate was complemented by the 33% penetration of PayPal Mobile Cash. For BNPL, PYPL was the leading offering with teens with 34% penetration. This is the second time payments and BNPL questions were part of the teen survey."
The firm reiterated an Overweight rating and $315 price target.
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