New Street Research - PayPal Holdings Inc (PYPL) PYPL US (BUY, TP: $100, +25%) Healthy Q3 beat; sneak preview for FY 25; model update

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New Street Research

Soomit Datta

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PYPL US (BUY, TP: $100, +25%) Healthy Q3 beat; sneak preview for FY 25; model update

PayPal reported solid Q3s, coming in ahead of expectations: 4% at transaction margin $ and 11% at non-GAAP EPS. FY guidance for 2024 was lifted, and consensus will move up, although less so for Q4 once higher higher investment costs are factored in.

30/10/2024 1 EN

Underlying

PayPal Holdings Inc

PayPal Holdings is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. The company's combined payment solutions include its PayPal, PayPal Credit, Braintree, Venmo, Xoom and iZettle products and services. PayPal's payment solutions enable the company's customers to send and receive payments. PayPal helps merchants and consumers connect, transact, and complete payments, whether they are online, on a mobile device, in an app, or in person. The company provides proprietary payment solutions accepted by merchants that enable the completion of payments on the company's Payments Platform on behalf of its customers.

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US70450Y1038 NASDAQ Stock Market United States

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New Street Research

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Analysts

Soomit Datta

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PYPL US (BUY, TP: $100, +25%) Healthy Q3 beat; sneak preview for FY 25; model update

PYPL US (BUY, TP: $100, +25%) PayPal - Pillar Two tax / EPS risk for FY 25 (?) and other company feedback

Money 20/20 USA - Key takeaways

Alphabet (GOOGL, Buy, $213 target) Forget Chrome, 3P payments are the heart of the issue

SATS: DBS merger breaks

3Q24 Broadband Trends: FWA capacity limits; FWA demand limits

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