Cyber Week data points to potential checkout share loss at PayPal, says Evercore

Evercore ISI says that Cyber Week data on online spending points to potential share loss in PayPal’s core checkout business, noting that Salesforce reported an average year-over-year decline of 4% and 2%, respectively, in PayPal’s U.S. and global usage from Tuesday, November 21, through Sunday, November 26. PayPal processed 13% and 14% of total Cyber Week online transactions in the U.S. and globally, respectively, according to the data, which the firm notes does not include Cyber Monday sales. The firm keeps an In Line rating and $65 price target on PayPal shares.