Paypal Stock – PayPal (PYPL) Apps ‘Surprisingly’ Strong Among Teens

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

Piper Sandler analyst Christopher Donat said the strength of PayPal (NASDAQ: PYPL) apps in its 41st semi-annual Taking Stock With Teens Survey “surprised us.”

Donat noted that Venmo ranked #1 with teens who have used a payment app in the last month.

“Venmo’s 47% penetration rate was complemented by the 34% penetration of PayPal Mobile Cash,” the analyst commented.

Further, PayPal was the leading offering for ‘buy now pay later’ among teens with 33% penetration.

The analyst reiterated an Overweight rating and $300.00 price target on PYPL.

For an analyst ratings summary and ratings history on PayPal click here. For more ratings news on PayPal click here.

Shares of PayPal closed at $253.19 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!