Jefferies has mentioned that due to its core payment platform, the buy rating for PayPal shares is about to rise.
As per analyst John Hecht, PayPal is about to outpace boarder ecommerce industry volume growth rates, due to its board consumer base and extensive merchant footprint.
Moreover, PayPal share has risen 2% since Wednesday, September 12, while Hecht has increased his price target from USD 100 to USD 110 for PayPal shares, which represents 21% upside to Tuesday’s 2018 close.
The same analyst mentions that since 2008 the annual growth rate has leapt to 13%, with 244 mln active registered account at the end of June. The mobile total payment has ascended to 40%, and the daily active users of PayPal’s mobile app has reached 600.000 in Q2.