For Immediate Release
Chicago, IL –December 24, 2018 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: PayPal (PYPL - Free Report) and eBay (EBAY - Free Report) .
Here are highlights from Friday’s Analyst Blog:
PayPal (PYPL - Free Report) Looks Like a Buy Going into Next Year
Shares of PayPal are still up roughly 10% over the past year despite a ton of turbulence. So, let’s see why the financial tech firm’s stock looks like a buy heading into 2019 in an industry that is only set to grow.
PayPal, which spun off from eBay in 2015, has expanded its reach through a series of acquisitions. This includes the firm’s $400 million purchase of Hyperwallet to help expand its global payout capabilities and its $120 million acquisition of fraud prevention firm Simility. PayPal’s $2.2 billion purchase—its largest ever—of small business commerce firm iZettle has come under fire from the U.K. Competition and Markets Authority after the deal closed in late September.
PayPal has, however, assured the U.K. watchdog that the merger won’t hurt consumers. “We absolutely believe that we will demonstrate that we are bringing more choice (and that) we are pro-competition. We are really looking to expand the market in ways that are great for small business and great for consumers alike,” PayPal COO Bill Ready told CNBC earlier this month.
Investors will have to wait to see how this situation plays out. But PayPal’s purchase of the Stockholm-based firm that has been called the “Square of Europe” and operates heavily in Europe, Mexico, and Brazil, was made to help it compete against rivals such as Square and fight off encroachment from the likes of Amazon.
With all that said, PayPal closed the third quarter with 254 million active accounts, up 15% from the year-ago period. The company’s total payment volume also surged 24% to $143 billion. Mobile payment volume accounted for 40% of the firm’s overall TPV. Investors should note that the company’s widely popular peer-to-peer payment app, Venmo, saw its TPV soar 78% to reach $17 billion.
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