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PYPL

PayPal

$92.16

0.74 (0.81%)

, AMZN

Amazon.com

$1,836.51

7.69 (0.42%)

12:06
07/25/18
07/25
12:06
07/25/18
12:06

On The Fly: What to watch in PayPal earnings report

PayPal (PYPL) is scheduled to report results of its second fiscal quarter after market close on July 25, with a conference call scheduled for 5:00 pm EDT. What to watch for: 1. OUTLOOK: During the company's last earnings call, PayPal said it sees second quarter adjusted earnings per share between 54c-56c, and revenue between $3.78B-$3.83B. The company also raised its 2018 earnings per share view to $2.31-$2.34 from $2.24-$2.30, and its 2018 revenue view to $15.20B-$15.40B from $15.0B-$15.25B. 2. ACQUISITIONS: On May 17, PayPal announced that it has agreed to acquire iZettle for $2.2B. The transaction is expected to be approximately 1c dilutive to PayPal's previously communicated full year 2018 non-GAAP EPS. The transaction is expected to close in the third quarter of 2018. The two companies will continue to operate independently until close. Later in the month, PayPal said that it acquired Jetlore. The latter's proprietary prediction platform empowers global online retailers such as Uniqlo and Nordstrom Rack to deliver personalized customer experiences to increase sales and loyalty. On June 19, PayPal announced that it had agreed to acquire Hyperwallet, a global payout platform, for $400M in cash, subject to certain adjustments. The transaction is expected to close in the fourth quarter of 2018. 3. OPPORTUNITY TO LEVERAGE POSITION: This week, Credit Suisse analyst Paul Condra said he is increasingly convinced PayPal has a "unique" opportunity to leverage its position as part of the fabric of the online economy, specifically the non-Amazon (AMZN) economy, to become much more valuable to both consumers and merchants. Condra believes PayPal has not leveraged the customer side of its platform to its full potential. While shoppers use it to pay for things, they do not use it to look for things, and herein lies the opportunity, he contended. The analyst reiterates an Outperform rating on PayPal's shares. 4. PARTNERSHIPS, NEW PRODUCTS: On May 9 Visa, Visa (V) and PayPal announced an extension of their strategic partnership to Canada that will see them work collaboratively to accelerate the adoption of digital and mobile payments for consumers and merchants in Canada. The two companies are already collaborating in the U.S., Asia Pacific and Europe. A month later, Uber and Venmo, a service of PayPal, announced that they were partnering to deliver a new payment experience available with Uber and Uber Eats. Uber customers in the U.S. ordering rides and food will soon be able to pay with their Venmo balance, linked bank account, credit card or debit card so they can easily split the cost with friends and family in the Venmo app, for no additional fee. Meanwhile, Reuters reported that PayPal is launching a debit card for users of its mobile app Venmo in an effort to expand its reach with younger users. Users of Venmo's Mastercard (MA) debit card will be able to pay in stores using their balance on their app rather than having to transfer funds from a bank account.

PYPL

PayPal

$92.16

0.74 (0.81%)

AMZN

Amazon.com

$1,836.51

7.69 (0.42%)

V

Visa

$141.10

1.16 (0.83%)

MA

MasterCard

$212.54

2.95 (1.41%)

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PYPL PayPal
$92.16

0.74 (0.81%)

07/25/18
KEYB
07/25/18
NO CHANGE
Target $100
KEYB
Overweight
PayPal price target raised to $100 from $95 at KeyBanc
KeyBanc analyst Josh Beck raised his price target for PayPal to $100 from $95 as his consumer survey indicated the preference for checking out with Venmo doubled sequentially. The analyst notes that the new marquee Pay with Venmo partners like Uber and GrubHub alone create a $30B-plus TPV opportunity next year, suggesting Pay with Venmo may be poised to break out. Separately, his Key First Look Data: Consumer Spending points to a modest sequential acceleration in TPV, which would be above Beck's estimate. He reiterates an Overweight rating on the shares.
07/24/18
FBCO
07/24/18
NO CHANGE
Target $100
FBCO
Outperform
PayPal has 'unique' opportunity to leverage position, says Credit Suisse
Credit Suisse analyst Paul Condra is increasingly convinced PayPal (PYPL) has a "unique" opportunity to leverage its position as part of the fabric of the online economy, specifically the non-Amazon (AMZN) economy, to become much more valuable to both consumers and merchants. Condra believes PayPal has not leveraged the customer side of its platform to its full potential. While shoppers use it to pay for things, they do not use it to look for things, and herein lies the opportunity, he contends. The analyst reiterates an Outperform rating and $100 price target on PayPal shares.
07/23/18
FBCO
07/23/18
NO CHANGE
FBCO
Outperform
PayPal has 'unique opportunity' to leverage customer base, says Credit Suisse
Credit Suisse analyst Paul Condra believes PayPal (PYPL) has a "unique opportunity" as merchants are increasingly pressured to find ways to differentiate from Amazon (AMZN). PayPal has not leveraged the customer side of its platform to its full potential, Condra tells investors in an intraday research note titled "PayPal Prime? Considering PYPL's Potential." The analyst argues that PayPal can become much more valuable to both consumers and merchants once it leverages its 200M global user base. He keeps an Outperform rating on the shares.
07/19/18
FBCO
07/19/18
NO CHANGE
Target $100
FBCO
Outperform
PayPal price target raised to $100 from $93 at Credit Suisse
Credit Suisse analyst Paul Condra raised his price target for PayPal to $100 from $93 as he remains positive on the name and views its unfolding acquisition strategy as strengthening the core merchant platform and expanding the company's value proposition. The analyst views this strategy as helping PayPal to become a partner of choice for merchants while expanding its offering well beyond payment solutions to include a diverse offering of marketing and sales conversion tools as well as financing options. The iZettle acquisition will also extend the company's reach into brick-and-mortar commerce, he contends, while reiterating an Outperform rating on the shares.
AMZN Amazon.com
$1,836.51

7.69 (0.42%)

07/24/18
KEYB
07/24/18
NO CHANGE
KEYB
Sector Weight
Amazon sales momentum continued, says KeyBanc
KeyBanc analyst Edward Yruma thinks Amazon's sales momentum continued, driven in part by Prime integration at Whole Foods. The analyst notes that Key First Look Data is supportive to his above consensus revenue view and thinks that increased price investments at Whole Foods helped. For AWS, a continued upswing in AWS job postings in Q2 supports Yruma's $42B sales estimate by 2020, he contends. Similar to the 1Q, the analyst believes advertising should help margins given high contribution margins. He reiterates a Sector Weight rating on the shares.
07/25/18
BMOC
07/25/18
NO CHANGE
Target $210
BMOC
Market Perform
Facebook price target raised to $210 from $170 at BMO Capital
BMO Capital analyst Daniel Salmon raised his price target on Facebook to $210 after his "deep dive" into the company's main platform and Instagram advertising revenue and format, estimating a $52.8B 2018 advertising revenue generation from the two. The analyst also forecasts a 3-year annualized growth for Facebook at 23% and Instagram at 80% as part of his analysis, driven by the increasing adoption of video ad format in advertising placement. Salmon keeps his Market Perform rating on Facebook, citing "growing costs necessary for content to drive TV budgets to the platform, R&D spending on tools to both manage user data and monitor content, a lack of visibility into monetization at Messenger/WhatsApp, and the emergence of Amazon's (AMZN) advertising business."
V Visa
$141.10

1.16 (0.83%)

07/25/18
ATLE
07/25/18
DOWNGRADE
Target $82
ATLE
Neutral
TransUnion downgraded to Neutral on valuation at Atlantic Equities
As previously reported, Atlantic Equities analyst Kunaal Malde downgraded TransUnion (TRU) to Neutral from Overweight, stating that he sees clear upside potential to Street estimates following another strong quarterly report, but that he also believes the upside is factored into the stock at its current valuation. With less upside seen to buyside estimates, Malde said he prefers other stocks that can deliver similar earnings growth and arguably more sustainably, such as Visa (V). However, he raised his price target on TransUnion shares to $82 from $77.
07/17/18
WOLF
07/17/18
INITIATION
Target $172
WOLF
Outperform
Visa initiated with an Outperform at Wolfe Research
Wolfe Research analyst Darrin Peller initiated Visa with an Outperform and $172 price target.
07/19/18
MSCO
07/19/18
NO CHANGE
MSCO
Morgan Stanley upgrades Payments and Processing industry to Attractive
Morgan Stanley analyst James Faucette upgraded his view of the Payments and Processing industry to Attractive, citing the firm's U.S. Strategy Team's call for rotation out of Technology and his view that Payments will be seen as an attractive option for investors looking to become more defensive. Investors underappreciate the resilience of consumer spending and Faucette sees the potential for his Payments coverage market-cap weighted earnings growth to accelerate organically to 15% over 2018-2020 from 11% growth over the last three years, he tells investors. In the group, the firm has Overweight ratings on Visa (V), MasterCard (MA), PayPal (PYPL), GreenSky (GSKY), Worldpay (WP) and FleetCor (FLT). Morgan Stanley has Underweight ratings on Western Union (WU) and On Deck Capital (ONDK), having downgraded On Deck this morning.
07/24/18
RAJA
07/24/18
INITIATION
Target $165
RAJA
Outperform
Visa resumed with an Outperform at Raymond James
Raymond James resumed coverage on Visa with an Outperform and $165 price target.
MA MasterCard
$212.54

2.95 (1.41%)

07/24/18
RAJA
07/24/18
INITIATION
Target $244
RAJA
Outperform
MasterCard initiated with an Outperform at Raymond James
Raymond James resumed coverage on MasterCard with an Outperform and $244 price target.
07/24/18
07/24/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Kindred Biosciences (KIN) initiated with an Overweight at Cantor Fitzgerald. 2. HCP (HCP) initiated with an Equalweight at Capital One. 3. Domo (DOMO) initiated with an Outperform at Credit Suisse, Cowen, JMP Securities, and William Blair, an Overweight at Morgan Stanley, and a Neutral at UBS. 4. MasterCard (MA) initiated with an Outperform at Raymond James. 5. Alteryx (AYX) initiated with a Neutral at DA Davidson. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/17/18
WOLF
07/17/18
INITIATION
Target $250
WOLF
Outperform
MasterCard initiated with an Outperform at Wolfe Research
Wolfe Research analyst Darrin Peller initiated MasterCard with an Outperform and $250 price target.

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NASDAQ Market Internals

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PZZA

Papa John's

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Papa John's put volume heavy and directionally bearish »

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FHN

First Horizon

$15.64

0.835 (5.64%)

15:13
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15:13
Upgrade
First Horizon rating change at BofA/Merrill »

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CBS

CBS

$53.48

0.11 (0.21%)

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AT&T

$33.58

-0.12 (-0.36%)

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CSX

CSX

$79.47

0.95 (1.21%)

15:04
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Options
CSX options imply 5.2% move in share price post-earnings, above median historical move »

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General news
Fed's Evans said a little more accommodation would be helpful »

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ESV

Ensco Rowan

$8.24

-0.21 (-2.49%)

14:55
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Options
Ensco put volume heavy and directionally bearish »

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FB

Facebook

$203.23

-0.7 (-0.34%)

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Hot Stocks
Facebook's Perault says Instagram, WhatsApp takeovers have benefited users »

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UAL

United Continental

$94.14

2.84 (3.11%)

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Options
United Continental options imply 6.7% move in share price post-earnings, above median historical move »

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MNST

Monster Beverage

$65.31

0.03 (0.05%)

, PM

Philip Morris

$81.31

-0.13 (-0.16%)

14:44
07/16/19
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14:44
Recommendations
Monster Beverage, Philip Morris, British American Tobacco, Altria Group, Nielsen analyst commentary at Wells Fargo »

Wells says Nielsen…

MNST

Monster Beverage

$65.31

0.03 (0.05%)

PM

Philip Morris

$81.31

-0.13 (-0.16%)

BTI

British American Tobacco

$36.42

-0.23 (-0.63%)

MO

Altria Group

$49.20

-0.36 (-0.73%)

NLSN

Nielsen

$23.36

-0.05 (-0.21%)

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Chemical Financial

$40.69

-0.11 (-0.27%)

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TCF Financial

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Federal Reserve approves Chemical Financial deal to acquire TCF Financial »

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Chemical Financial

$40.69

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TCF

TCF Financial

$20.63

-0.03 (-0.15%)

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Conference/Events
Morgan Stanley India phama analyst to hold an analyst/industry conference call »

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F

Ford

$10.43

0.015 (0.14%)

, GM

General Motors

$39.21

-0.15 (-0.38%)

14:25
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Periodicals
U.S. car makers open UAW contract talks as labor costs rise, WSJ reports »

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Ford

$10.43

0.015 (0.14%)

GM

General Motors

$39.21

-0.15 (-0.38%)

FCAU

Fiat Chrysler

$13.61

-0.565 (-3.99%)

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JBLU

JetBlue

$19.53

0.8 (4.27%)

14:25
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Options
JetBlue call volume above normal and directionally bullish »

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GOOG

Alphabet

$1,152.76

2.37 (0.21%)

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Conference/Events
Senate Judiciary Committee to hold a hearing »

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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CFRX

ContraFect

$0.47

-0.0187 (-3.83%)

14:12
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Conference/Events
ContraFect management to meet with Jefferies »

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ATEC

Alphatec

$4.38

-0.06 (-1.35%)

14:09
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14:09
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Breaking Syndicate news story on Alphatec »

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SPOT

Spotify

$154.15

-0.13 (-0.08%)

, AAPL

Apple

$203.82

-1.36 (-0.66%)

14:08
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Hot Stocks
Spotify slides after Apple said to plan original, exclusive podcasts »

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SPOT

Spotify

$154.15

-0.13 (-0.08%)

AAPL

Apple

$203.82

-1.36 (-0.66%)

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