As previously reported on Tuesday morning, Bernstein analyst Harshita Rawat upgraded PayPal to Outperform from Market Perform, with a $130 price target. The analyst cited the likelihood of 2020 positive revisions due to tailwinds from partnerships, pricing, Honey deal and Venmo monetization. Additionally, Rawat expects a reset of expectations and sees long-term optionality for growth acceleration from partnerships, potential offline-online convergence meaningfully expanding TAM, and better execution on areas that are either under-monetized or under-invested. .

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.