PayPal (PYPL) TPV Growth Looks Conservative for 2Q After Credit Suisse Does a Product Line Model Review

Credit Suisse analyst Timothy Chiodo reiterated an Outperform rating and $315.00 price target on PayPal (NASDAQ: PYPL) after reviewing TPV mix, take rates, & transaction margins by business line and coming away thinking 2Q TPV growth is conservative.

The analyst stated "From our analysis, we determine that, assuming travel (heavier within Braintree) continues to improve throughout the quarter, our TPV growth forecast for Q2 may prove conservative with average daily volumes for core PayPal (a check and the fallout category in our build) implied to decline from ~$1.35b in April to ~$1.25b in June and remain roughly flat overall for the quarter vs. Q1 levels (an unlikely outcome in our view)."

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 $262.17 yesterday.

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