JPMorgan analyst Tien-tsin Huang raised his price target for PayPal (PYPL) to $125 from $105 and keeps an Overweight rating on the shares after meeting with management. The analyst says he gained a better appreciation of the positive momentum and strategy surrounding marketplaces and Venmo. Both of these are important revenue sources to replace the eventual run-off of eBay (EBAY), Huang tells investors in a research note.

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.