BTIG analyst Mark Palmer raised his price target on PayPal (PYPL) to $114 and kept his Buy rating, citing the company's "multi-faceted" growth story that includes accelerating active account additions, continued increases in customer engagement, and acceleration of Venmo payment volume. The analyst believes that PayPal can drive growth rates that are "about twice that of its peer group", justifying the premium of the stock relative to its peers. Palmer adds that PayPal shares still trade at a discount relative to MasterCard (MA) based on its enterprise value to expected FY21 EBITDA multiple.

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.