JPMorgan raised its price target on eBay (EBAY) to $64 from $60 after updating its sum-of-the-parts analysis for its two businesses that are being separated. The firm noted that it values PayPal (PYPL) at an enterprise value of $38B and a post-spin share price of $36 and values eBay's core marketplace business at an enterprise value of $30B and a post-spin share price of $29. JPMorgan maintains its Neutral rating on eBay heading into the spin-off of PayPal.

DMG Blockchain Solutions (DMGGF) announced a strategic collaboration with PayPal (PYPL) and Energy Web to explore ways to decarbonize the Bitcoin blockchain. The companies are working together on developing methods for transacting on the Bitcoin network which would expand its use as a carbon neutral payment rail, thus advancing its application. DMG, Energy Web, and PayPal are working together to publish a research paper, which we collectively believe will benefit users of the Bitcoin network who would like to take advantage of carbon neutral options in their transactions. PayPal, with its focus on developing its bitcoin payment rail, has been a leader in new payment technologies with the introduction of its enhanced services by integrating blockchain technology, launching the PayPal USD stablecoin with Paxos Trust Company in August 2023 for efficient transactions.