Paypal market capitalization on the rise
Paypal is becoming increasingly competitive, as evidenced by a rise in shares of 75 percent since the start of 2017. As part of that upswing, it also exceeded American Express last week. It’s now $6 billion away from surpassing Morgan Stanley’s numbers and closing in on Goldman Sachs, as well.
According to Pymnts.com, “PayPal’s market capitalization hit at about $83 billion, nearly double the $47 billion value it had when it spun off from eBay Inc. a little over two years ago.”
Las week, analysts at Morgan Stanley upgraded PayPal’s stock, noting that PayPal “is among the few large companies that can deliver high-teens revenue [growth] … with significant upside opportunities.” Paypal has made the leap from being a payments company to setting the stage for emerging into global digital commerce.
PayPal’s earnings will be public Thursday. “As of now, it trades at a multiple of around 32 times forward earnings. By comparison, Visa trades at around 27 times forward earnings and MasterCard is around 29 times. AmEx, meanwhile, trades just shy of 15 times,” said the article. Read the full story here.