#1 - PayPal (NASDAQ:PYPL)
PayPal (NASDAQ:PYPL) is one of the leading companies in the emerging financial technology (fintech) sector. Although the company has been around for quite some time, it still behaves like a young startup.
For example, PayPal is best known for its ability to allow consumers and businesses to make digital payments. That has spawned Venmo, a cash app that allows individuals to send money to each other without carrying cash. But PayPal has expanded to look a lot more like a full-service bank. Today, the company offers peer-to-peer fund transfers, debit cards, credit cards, and small business loans under its Working Capital program.
This diversity of services is highlighting two critical target audiences. First, gig workers oftentimes are sole proprietors that need to find a payment method other than cash. After the financial crisis, cash made a brief comeback, but as e-commerce continued to grow, there became a need for small businesses to get payments without ACH transfers and the like. That’s where PayPal excels.
One limitation of PayPal was its ability to accept payments in remote settings. To help correct this, PayPal is introducing a new touchless feature on its mobile app. This will allow customers to use PayPal as a form of payment at places like farmers' markets that may not be set up for digital payments.
If this sounds like another company, you know, keep reading.
About PayPal
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.
Read More - Current Price
- $64.48
- Consensus Rating
- Hold
- Ratings Breakdown
- 13 Buy Ratings, 22 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $72.73 (12.8% Upside)
