Sticking with PayPal
- July 31, 2019
Good Quarter, But Revenue Outlook Tempered
PayPal delivered solid 2Q results as key quarterly operating metrics such as account growth, total payment volume, and Venmo monetization remain strong and relatively consistent. However, somewhat discouragingly, PayPal moderated its 2019 calendar year revenue outlook reflecting project delays with partners, pricing delays and incremental foreign exchange headwinds.
Oppenheimer analyst Glenn Greene maintains Outperform rating and raises his price target on a higher valuation multiple given PayPal's unique competitive position within the large online payments market.
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