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Why Analysts Are Chasing PayPal Targets Ever Higher
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PayPal Holdings Inc. (NASDAQ: PYPL) reported better than expected earnings in its quarterly report, sending shares up as much as 3% on Thursday. The company still struggles to get the respect as an independent company after last year’s spin-off from eBay Inc. (NASDAQ: EBAY).
PayPal is one of those companies that has great growth ahead but which many analysts, investors and competitors alike wonder if it will prevail in the growing world of payments technology. Fortunately for those who worry too much about the growing pressure, PayPal has been a trusted source of payments for a decade or more for millions of consumers. There are many forms of payments now, real (Apple, Visa and on and on) and virtual (Bitcoin, etc.).
In the day and age of consumers having a compromised trust of new services tying into their bank accounts, and with the fear of cybertheft being so high, consumers might just want to keep using the payments services they already know and trust. That plays right into the hands of PayPal.
Another boost is that PayPal is not just the service you know only from eBay auctions. Its brands and lines also include PayPal Credit, Braintree, Venmo and Xoom, and it operates in more than just the U.S. dollar and more than just the U.S. jurisdiction.
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