5 PayPal Analysts Praise ‘Solid’ Q1 Earnings: ‘Nice To See Dollar Growth Turn Positive’
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Shares of PayPal Holdings Inc (NASDAQ:PYPL) tanked in early trading on Wednesday, after the company reported its first-quarter results.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.
- Goldman Sachs analyst Michael Ng maintained a Buy rating, while raising the price target from $74 to $76.
- Stifel analyst Charles Nabhan reaffirmed an Equal-Weight rating, while lifting the price target from $70 to $75.
- Mizuho Securities analyst Dan Dolev reiterated a Neutral rating, while raising the price target from $60 to $68.
- JMP Securities analyst Andrew Boone maintained a Market Outperform rating, while lifting the price target from $70 to $82.
- JPMorgan analyst Tien-tsin Huang reaffirmed an Overweight rating, while raising the price target from $70 to $77.
Check out other analyst stock ratings.
Goldman Sachs: PayPal delivered higher-than-expected results for Q1 due to “transaction margin growth and opex discipline,” Ng said in a note.
The company’s transaction margin dollars rose by 4% year-on-year to $3.5 billion, surpassing consensus with a better-than-expected TPV (total payment volume) growth of 14% year-on-year. This included “accelerating growth at branded (+7% yoy v. +5% in 4Q23) and …
Full story available on Benzinga.com
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