FMP
Mizuho Reiterates Outperform on PayPal Following New Partnership with Amazon
Sep 19, 2024 2:20 PM - Davit Kirakosyan
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Mizuho analysts reiterated their Outperform rating for PayPal (NASDAQ:PYPL) with a price target of $90, following positive news of a partnership with Amazon.
Amazon recently announced that PayPal is now available as a payment option at "Buy with Prime" checkout, though currently limited to merchants participating in the program. The analysts see this collaboration as a significant milestone for PayPal's Branded Checkout service, marking its first step in working directly with Amazon.
This partnership adds to PayPal's growing list of recent collaborations, including those with Adyen and other financial institutions. The analysts believe these partnerships highlight PayPal's strong position in the broader payments ecosystem, supported by its vast network of over 400 million active users and more than 35 million merchant relationships.
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