Piper Jaffray Comments on eBay's PayPal Event
In a research report published earlier today, Piper Jaffray reported its three takeaways from the eBay Inc. (NASDAQ: EBAY) hosted PayPal event in New York yesterday.
Piper Jaffray said in the report, “Three take aways: In May, eBay will go live with new features for its digital wallet including: the ability to use multiple payment sources, a new 7-day grace period to switch transaction sources and the option of installment payments. These features are part of a bid to become the digital wallet of choice, regardless if the transaction is on NFC, card, phone or desktop. The bottom line, PayPal is well positioned with its 106m accounts and 9m retailers to be one of the winners in payments, however we remain Neutral on shares of EBAY as we view upside to our CY12 estimates as unlikely, and payments ramping not until 2014.”
Piper Jaffray maintains its Neutral rating and $36 PT on eBay Inc., which closed yesterday at $37.39.
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