PYPL - PayPal Holdings, Inc.
| Previous close | 177.43 |
| Open | 179.69 |
| Bid | 177.35 x 1300 |
| Ask | 177.40 x 1400 |
| Day's range | 176.72 - 179.80 |
| 52-week range | 82.07 - 179.80 |
| Volume | 5,943,623 |
| Avg. volume | 8,924,204 |
| Market cap | 208.041B |
| Beta (5Y monthly) | 1.18 |
| PE ratio (TTM) | 112.09 |
| EPS (TTM) | 1.58 |
| Earnings date | 29 Jul 2020 |
| Forward dividend & yield | N/A (N/A) |
| Ex-dividend date | N/A |
| 1y target est | 168.76 |
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Stress Test Results Could Lead to Dividend Cuts -- Should Bank Investors Worry?
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3 Reasons PayPal's Taking Share of Online Checkout
Visa and Mastercard reported 18% and 20% increases, respectively, in card-not-present spending (excluding travel) for the month of April. PayPal (NASDAQ: PYPL) grew branded transactions more than twice as fast -- up 43% in April, CEO Dan Schulman said during its first-quarter earnings call. When asked how PayPal is managing to grab market share despite a constant influx of competition for online checkout, CEO Dan Schulman gave three reasons: scale, technology, and brand.
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How $2 Billion Went Missing
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- Bloomberg
Gojek Joins Global Tech Layoffs in Slashing 9% of Staff
(Bloomberg) -- Gojek, the ride-hailing and delivery giant competing with Grab Holdings Inc., will cut 430 jobs or 9% of employees as it grapples with the economic fallout of the coronavirus pandemic.Many of the staff reductions hit newer divisions GoLife and GoFood Festivals, Indonesia’s largest startup said in a statement. The household services and dining divisions will shutter in July, it said.The move underscores Gojek’s effort to streamline its core businesses to focus on digital payments, transport and food delivery, which are aimed at helping the so-called super app move toward profitability. Gojek goins arch-rival Grab in culling stuff, as Asia’s largest technology startups grapple with global corinoavirus lockdowns.“The biggest challenge is the level of uncertainty ahead and the hard fact that this will forever change how some of our businesses and products need to operate,” Co-Chief Executive Officers Andre Soelistyo and Kevin Aluwi said in an internal email to employees Tuesday.The staff reductions come after Gojek managers pledged to funnel 25% of their salaries over the next year into a fund designed to support drivers, merchants and partners. The budget assigned for annual employee salary increases was also redirected, producing a total pool of roughly $6 million.Read more: Grab to Cut 5% of Employees in Another Setback for SoftBankTechnology companies across the globe have been shedding workers in large numbers since the coronavirus was declared a pandemic three months ago. In Asia, Grab and Oyo Hotels were among the largest startups so far to have culled staff. A tracker maintained by Layoffs.fyi estimates that 500 tech companies have cut about 64,400 jobs as of mid-June.Facebook Inc. and PayPal Holdings Inc. this month revealed they had invested in Gojek, showing confidence in its efforts to create a digital payments platform in the region. Gojek is now backed by some of the world’s largest internet companies, including Alphabet Inc.’s Google and China’s Tencent Holdings Ltd.Gojek made the announcement Tuesday evening after a series of 16 internal townhall meetings attended by employees.“Today, in each townhall, I felt like I’d failed so many of our colleagues,” said Aluwi. “I’d like to personally apologize for what we unfortunately had to do.”(Updates with comments from co-CEOs from the fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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The Zacks Analyst Blog Highlights: Tesla, PayPal, Autodesk, Cadence and Splunk
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Digital Payments Rise Amid Coronavirus Crisis: Stocks in Focus
Here we discuss six technology stocks poised to benefit from the growing adoption of digital payment solution especially amid coronavirus outbreak.
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The tech sector has remained reasonably unscathed amid the pandemic primarily because investors saw that these companies have been gaining immensely from secular trends like cloud computing and robust telecommunications infrastructure.
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Paypal (PYPL) Gains As Market Dips: What You Should Know
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- Motley Fool
Is PayPal Stock a Buy?
Even after 50% gains so far this year, this fintech pioneer still has plenty of room to run, says one analyst.
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PayPal (PYPL) Pledges $530 Million to Promote Racial Equity
PayPal (PYPL) strives to support black and minority--owned businesses and communities in the United States with its latest $530 million commitment.
- Motley Fool
Is Fiserv a Buy?
The migration to digital payments has been huge over the last decade. E-commerce is increasingly becoming the rule versus the exception, digital banking is on the rise, and better access to the internet is opening up new options for consumers around the globe to move and manage money. While not ideal timing, the disruption is proving to be an opportunity for Fiserv to offload unnecessary expenses and double down on its highest growth revenue streams.
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Contactless Payment Stocks Score Big on Surging Online Sales
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- Motley Fool
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Investors looking to boost their long-term returns should consider these companies disrupting the status quo.
- Motley Fool
Big Tech Data Analytics Unicorn Palantir Preparing Its IPO
The company, led by PayPal co-founder Peter Thiel, is preparing a confidential filing to go public in the coming months.
- Bloomberg
Indonesia’s Ovo Is Close to Merger With Dana to Fight Gojek
(Bloomberg) -- Two of Indonesia’s top fintech startups have agreed in principle to merge to create a stronger challenger to Gojek’s GoPay, according to people familiar with the matter.Digital-payments company Ovo and digital-wallet provider Dana ironed out differences over valuations and structure as they aim to reduce cash burn, the people said, asking not to be named because the matter is private. The signing of the deal was delayed because of the coronavirus outbreak and could happen soon after finalizing details, the people said. The terms and timing could change or the deal may still fall apart, they said.The Indonesian deal is a proxy battle between global powers. Ovo is part of the SoftBank Group Corp. empire and Dana is backed by an affiliate of Alibaba Group Holding Ltd., while Gojek’s investors include Facebook Inc. and PayPal Holdings Inc. A merger between the first two would tighten the alliance between SoftBank and Alibaba, and consolidate the Indonesia digital payments market to fewer major players. Ovo is backed by the Singapore-based ride-hailing giant Grab Holdings Inc., whose primary venture backer is SoftBank.If completed, the deal would help Grab compete with archrival Gojek on its home turf of Indonesia in digital-payment services. Both companies see digital payments as a crucial way to gain customers before offering them an array of financial products, which are aimed at helping the companies move toward profitability.An agreement would end months of negotiations over control and valuation. Ant Financial, the Alibaba financial services affiliate behind Dana, was reluctant to cede control of business, according to the people familiar with the matter. Ant has ambitions to expand its business across Southeast Asia, where it has local partners in Indonesia, Malaysia, the Philippines and Thailand. Under the proposed structure, Ant would remain a shareholder in the merged entity, while some of the major existing shareholders would see their stake trimmed, one of the people said.Representatives for Grab, Ovo, Dana and Ant Financial declined to comment.Read more: Banks, Startups Build a $38 Billion Southeast Asia Fintech ArenaThe merger is likely to create the biggest digital payments platform in the world’s fourth most populous country. Both Gojek’s GoPay and Ovo claim they are Indonesia’s largest e-wallet platform.Indonesia’s e-wallet players have all been mired in a bruising battle for leadership, mirroring the fight in the ride-hailing industry in the past. Ovo, which was started by Indonesia’s Lippo Group, is valued at $2.9 billion, according to CB Insights. Dana -- owned by Ant Financial and Indonesia’s media conglomerate Elang Mahkota Teknologi, better know as Emtek -- doesn’t publicly disclose its valuation.Gojek is moving quickly to expand its digital financial services. Indonesia’s largest startup scored Facebook and PayPal as new backers and launched a new online gold investment service this month. Gojek’s app has been downloaded 170 million times and was the mostly widely used on-demand app in Indonesia in 2019, according to App Annie. Ovo is present in 115 million devices.Related story: Facebook, PayPal Back Gojek’s Asia Digital Payments PushSoutheast Asia has seen a rapid adoption of digital finance since Grab and Gojek funneled some of the billions they raised into in-app payments and financial services. Other segments like lending and insurance remain in their nascent stages.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Bloomberg
Palantir to File IPO in Weeks For Possible Fall Debut
(Bloomberg) -- Palantir Technologies Inc., the secretive big-data firm, plans to file to go public in the coming weeks and could start trading as early as the fall, according to people familiar with the matter.The Palo Alto, California-based company is preparing to register an S-1 filing confidentially with the U.S. Securities and Exchange Commission, said the people, who asked to not be identified because the matter isn’t public.Palantir is working with bankers to organize a tender offer for private shareholders to help clean up its capital structure ahead of an initial public offering, the people said. It’s also working with an IPO readiness consultant, they said.Private investors last valued Palantir at $20 billion in 2015. It isn’t clear what valuation it may seek in an IPO. No final decision has been made and the company’s plans could still change, the people said.A representative for Palantir declined to comment.The potential IPO comes as Palantir expects to generate $1 billion in revenue this year and break even for the first time in its 16-year history, according to documents reviewed by Bloomberg.IPO ReboundU.S. IPOs have enjoyed a mini boom in the U.S. after coming to a near standstill when the coronavirus pandemic took hold in March. That includes companies such as ZoomInfo Technologies Inc., which last week raised $1.07 billion including the so-called greenshoe shares.Twenty-one IPOs have raised $6.8 billion in the past month, accounting for 44% of the total on U.S. exchanges this year, according to data compiled by Bloomberg.Co-founded by billionaire Peter Thiel, Palantir’s software mines troves of personal and commercial data and looks for patterns. The company, founded in 2003, got its start interpreting intelligence for the U.S. Central Intelligence Agency and the Pentagon and then moved on to banks, helping them watch for suspicious behavior. In-Q-Tel, the venture arm of the CIA, is a Palantir investor.Dozens of law enforcement and government agencies around the world use Palantir to compile and search for data on citizens with the intent of combating crime, hunting terrorists and in recent months, tracking the spread of Covid-19. The pandemic has boosted business, particularly with businesses using the products to help determine how to reopen.However, Palantir is highly controversial for the way its tools have been used to compromise privacy and enable excessive surveillance. Its use by police and immigration officials, in particular, has sparked numerous protests.IPO ResistedThe company had long resisted a public offering to avoid getting valued as a consultancy, and to stay out of the public eye as it worked toward profitability, people familiar with the matter have said.Its dependence on engineers customizing software for each client and bloated cost structure also resulted in consistent annual losses. That heightened the possibility that it wouldn’t be valued as a software company despite its Silicon Valley credentials.That changed last year, with customers using a new more automated product that has put Palantir on the path toward profitability.The company could go public within a year, Chief Executive Officer Alex Karp said in an interview with Axios Media on HBO last month.Palantir’s funders include Founders Fund, the venture capital firm started by Thiel. Other investors include Morgan Stanley, BlackRock Inc. and Tiger Global Management.PayPal, FacebookThiel, a co-founder of Pay PayPal Holdings Inc., has helped launch or advance Silicon Valley firms including Facebook Inc., where he has been a board member since 2004. Through Founders Fund, his influence has been extended to an array of technology companies.The billionaire has also served as an adviser to President Donald Trump, chastising other technology companies, in particular Alphabet Inc.’s Google, for their reluctance to work with the Defense Department.Palantir is in the process of expanding its board -- composed of Thiel and three other men -- to improve corporate governance and diversify perspectives. The company is interviewing candidates and intends to elect at least two independent members by the end of the year, people familiar with the matter said in April.(Revises description of Palantir’s tools and the controversy surrounding them starting in the 10th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
