Expect PayPal To Remain In Holding Pattern Following Analyst Day

Noted tech analyst Victor Anthony of Axiom Capital issued a research note Thursday afternoon which suggested shares of PayPal Holdings Inc PYPL are likely to remain in a holding pattern. The note followed the company's first-ever Analyst Day since separating from eBay Inc EBAY.

The analyst saw PayPal's presentations as "positive" and said they "illuminated the growth opportunities ahead for the company, but did little to adjust our estimates higher and change our investment opinion on the stock."

According to Anthony, "The main takeaway was how PayPal plans to drive engagement per customer to 2-3x per week from 2-3x per month today through offering more payment options to consumers (expand ways to get money in and get money out) while increasing the merchant value proposition through enhanced services (risk, contextual commerce, rewards, working capital) and technology."

Anthony maintains a Hold rating and $36 price target on PayPal shares.

At least several other sell-side firms offered their takeaways from the event:

• What Are Bernstein's Top 3 Open Questions To PayPal?
• Bob Peck Offers Top 10 Takeaways From PayPal's First-Ever Analyst Day
• What Are Stifel's Takeaways From PayPal's Analyst Day?

  The stock closed down more than 3 percent at $37.65.