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Shares of PayPal were soaring in Friday's session, up over 9.5 percent at time of writing.
Barclays highlighted PayPal's first mover advantage, brand awareness and best–in-class position in each channel as key catalysts for continued market penetration.
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Analysts are expecting mid- to high-teens EPS growth over the next three years with even more potential from possible buybacks and M&A activity.
Medium Term Top-Line Guidance
PayPal provided its FY17 and three-year outlook and is looking for revenue growth in FY17 to come in around 16–17 percent. Operating margins are expected to be flat, as some revenue and cost initiatives will be offset by incremental expense related to customer choice initiatives.
The company also has raised its FY16 guidance and provided 4Q guidance that was in-line with consensus estimates.
Barclays has an Overweight rating on PayPal and slightly lowered its $47 price target to $46.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.