Baird analyst Colin Sebastian keeps his Outperform rating and $120 price target on PayPal after its announced $4B acquisition of Honey Science. The analyst says the acquired business will offer the company a way to "capture online shopping throughout the purchase funnel", not just at the end of the process, which should generate additional ways of monetizing the company's 275M active users. Sebastian adds that Honey's "combination of rewards and payments" adds a "very lucrative" opportunity for PayPal and should result in greater user engagement, monetization, and increasing usage of PayPal checkout.

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.