RBC Capital raised the firm’s price target on PayPal (PYPL) to $89 from $84 and keeps an Outperform rating on the shares after its Q3 earnings beat. The company’s total payment volume continued to decelerate, but its transaction margin dollars continued to improve, rising 8% which was up from 6% growth in Q2, the analyst tells investors in a research note. PayPal’s focus remains on driving profitable growth, which the management suggests should hold similar growth rates in FY25, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PYPL:
- PayPal price target raised to $76 from $71 at Morgan Stanley
- PayPal price target raised to $90 from $80 at JPMorgan
- PayPal’s Strong Q3 2024 Performance and Positive Outlook
- PayPal ‘lukewarm’ 2025 commentary overshadows Q3 beat, says BTIG
- PayPal should be bought on earnings selloff, says Monness Crespi