PayPal wird zum Übernahmekandidaten?
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In den 3 Tage wurde an der Nasdaq 450mio$ Umgesetzt
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PayPal Holdings Inc (NASDAQ:PYPLV) has started trading on NASDAQ under what is called “when issued” terms. With shares hitting $36, the payments company’s valuation came to $44 billion. PayPal is set to officially separate from the parent eBay Inc (NASDAQ:EBAY) later this month.
Analysts at Goldman Sachs Group Inc (NYSE:GS) also have a positive outlook for PayPal. The company considers PayPal’s pricing reasonable and has initiated its coverage of the stock with a price target of $48 and a Buy rating.
The question on the minds of many investors is which stock, between PayPal Holdings Inc (NASDAQ:PYPLV) and eBay, is the better option.
According to analysts, PayPal is more likely to trade like money remittance providers Mastercard Inc (NYSE:MA) and Visa Inc. (NYSE:V) than a technology company. Gil Luria of Wedbush also noted that PayPal has a unique growth profile and looks better positioned than most technology companies.
The value in PayPal
One of the greatest values that analysts see in PayPal Holdings Inc (NASDAQ:PYPLV) is that larger rivals have failed in their many attempts to copy its business strategy. PayPal operates a two-way Internet payments service that covers a network of 165 million users in 203 countries. The company also processes payments in 100 different currencies.
Huge growth opportunity
PayPal is clearly well situated to take advantage of the rapidly growing but usually dynamic Internet payments market. Goldman estimates that the payments market is currently worth $34 trillion. PayPal’s current share of that market is just 1%, which indicates significant growth opportunity for the company going forward.
There is plenty of optimism around PayPal, also considering how the business has performed as part of eBay in recent times. In the most recent quarter, PayPal generated more revenue than eBay’s Marketplace at $2.11 billion against $2.07 billion.
Competition in payments market
Despite the massive market potential for PayPal Holdings Inc (NASDAQ:PYPLV), competition is also increasing in the online payments space. With the likes of Apple Inc. (NASDAQ:AAPL), Google Inc (NASDAQ:GOOGL) and many others pushing hard in the payments market, PayPal has well-funded competitors. There is no doubt that PayPal will be able to grow into a much bigger company, but its revenue gains would likely be slower in the long-term because of heightened competition.
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http://investcorrectly.com/20150709/...g-spinoff-ebay-inc-nasdaqebay/
Wenn man Sieht wie sich PaySysteme in letzten Jahre entwickelt haben Mastercard,Visacard, Wirecard kann man positiv in die Zukunft blicken.
eBay (EBAY: Nasdaq)
By Evercore ISI ($61.04, June 28, 2015)
On Friday following the market’s close, eBay announced that its board approved the separation of PayPal from eBay with stockholders receiving one share of PayPal for each share of eBay owned in a pro rata distribution.
As such, we are releasing our updated sum-of-the-parts valuation and forecast by segments, which does take into account a slightly higher revenue growth outlook for PayPal consistent with management’s roadshow presentation leading into this distribution event. In terms of process, the distribution of shares is scheduled to occur on Friday July 17, earlier than expected, with PayPal beginning trading on Monday July 20. Also notable is that beginning on or about July 6 and continuing up to and through the distribution date, two markets in eBay (ticker: EBAY ) common stock are expected, where shares will trade “regular-way” and without entitlement to the PayPal distribution.
ebay
Our sum-of-the-parts valuation of $55 (revised from $50) assigns $32 per share to PayPal and $22 for Marketplaces. These segment values are derived through respective discounts of cash flow in which free-cash-flow terminal multiples of 12 times and 10 times are assigned in the final year, respectively. Moreover, in the case of eBay at least, we suspect the likelihood for a more substantial share repurchase (up to 20% allowed in the first two years) could yield more upside than our target currently identifies, mitigating some of the competitive risks that the business faces, at least from a valuation standpoint. In our revised sum-of-the-parts valuation, we allocate net cash by segment according to the disclosed capital allocation, whereby PayPal receives about $6 billion while eBay takes the remaining about $8 billion along with eBay’s $6.8 billion in long-term debt (equaling $1.2 billion in net cash). Note, for simplicity, this does not penalize eBay for the repatriation of their offshore cash holdings (about $2.50 per share).
In terms of estimates, for PayPal, we are modeling free cash flow to increase at a 15% five-year compound annualized growth rate (CAGR) from $1.8 billion this year, which places free cash flow at about 25% of revenue in the outer years, or 0.7% of volumes (total payment volume (TPV)). Meanwhile, TPV and revenue are forecasted to increase by 78% and 52%, respectively (this is from 2015 to 2020, CAGR for this period is 12.3% and 8.8%, respectively), over this same period, the latter more consistent with management’s outlook, which presumes trends stay relatively intact with no major disruption.
For eBay, we project a more modest 5.1% free cash flow CAGR through 2020, increasing from $2.2 billion this year (the midpoint of guidance) to $2.8 billion in 2020, once again driven by low-single-digit top-line growth. Moreover, as we mentioned before, there is the potential for additional per share appreciation through expanded buyback. Our revised $55 target (up from $50), implies eBay can trade at 11 times estimated 2016 free cash flow of $2.3 billion and PayPal can trade at 15 times estimated 2016 free cash flow of $2.2 billion, or 15 times on a consolidated basis.
http://online.barrons.com/articles/...en-valued-at-32-each-1435640396
The online payments service is buying an emerging player in international remittances.
PayPal has acquired money transfer company Xoom for $890 million to expand its digital payments business in prelude to splitting from parent, eBay.
Xoom, founded in 2001, lets people send money, pay bills and reload mobile phones from the United States to 37 countries. It is used widely by immigrants who send some of their earnings to family members back home.
PayPal’s president Dan Schulman said in a release that acquiring Xoom allows PayPal to offer a larger range of services, in overseas markets. Xoom has a particularly big presence in Mexico, India, the Philippines, China and Brazil.
Xoom will operate as a separate service within PayPal.
The acquisition comes shortly before PayPal spins off from eBay, which is expected later this month. PayPal will start publicly trading as an independent company on July 20. In the last quarter, PayPal’s payments revenue surpassed that of eBay’s marketplace business, highlighting their divergent paths as they prepare to separate.
In the first quarter of 2015, PayPal’s revenue grew 14% to $2.1 billion. Payment volume rose 18% to $61 billion and the number of transactions grew 24% to over 1 billion. Mobile payments through PayPal are up 40% year-over-year and now represent 30% of all transactions.
Outgoing eBay CEO John Donahoe had previously explained that the once-symbiotic relationship between the two businesses wasn’t as tight as it used to be and that they could do better alone while focusing on their respective businesses.
Interestingly, former PayPal CFO and Sequoia Capital partner Roelof Botha is on Xoom’s board.
PayPal is paying $25 per share for Xoom, representing a 32% premium above its average price over the past three months.
http://fortune.com/2015/07/01/...-transfer-firm-xoom-for-890-million/
Bereits zum zweiten Mal in Folge wurde der Shopsystem-Hersteller Shopware AG aus dem westfälischen Schöppingen im Rahmen des diesjährigen PayPal Partnertages in Berlin mit dem Partner Award des Payment-Anbieters ausgezeichnet. Der Online-Bezahldienst würdigt damit die langjährige und gute Zusammenarbeit zwischen Shopware und PayPal. So stand für die Verleihung des Awards vor allem die frühe Zusammenarbeit rund um PayPal Plus im Vordergrund. Schon während der Beta-Phase des Produktes begann die intensive Kooperation zwischen Shopware und PayPal. Der Shopsystem-Hersteller war laut PayPal somit von der ersten Minute an mit dabei.
"Wir sind sehr stolz darauf, auch in diesem Jahr wieder als herausragender PayPal-Partner ausgezeichnet zu werden", so Wiljo Krechting, Pressesprecher der Shopware AG. "Die Kooperation hat für uns seit vielen Jahren eine große Bedeutung. Die Tatsache, dass Shopware sich zum zweiten Mal in Folge über einen PayPal Award freuen darf, zeigt, dass Shopware als System und Partner sehr gefragt und unsere Partnerbetreuung vorbildlich ist. Darüber freuen wir uns sehr", so Krechting weiter.
Die All-in-One-Bezahllösung PayPal Plus wurde Ende Februar auf den Markt gebracht. In dem Produkt sind sämtliche, z.T. bisher separat verfügbare Bezahlarten von PayPal gebündelt. So übernahm PayPal 2008 den Rechnungskaufanbieter Bill Me Later und bot Lastschrift und Kreditkartenzahlungen bereits im Rahmen seines E-Wallets an. Erklärtes Ziel von PayPal Plus ist es, dass E-Commerce-Treibende ihren Kunden stets die gewünschte Bezahlmethode anbieten können. Das soll Kaufabbrüche reduzieren, die Konversionsrate erhöhen und den Umsatz steigern.
Neue Shopware-Version setzt auf Einkaufs-Komfort
PayPal Plus passt damit gut zu der Ende April veröffentlichten Programmversion 5 von Shopware. Der Shop-Softwarehersteller will damit das aus dem stationären Handel bekannte Einkaufserlebnis nahtlos ins Internet übertragen. Unter dem Leitsatz "Emotional Shopping on any Device" sollen völlig neue, emotionale Maßstäbe im E-Commerce gesetzt werden. So ist in Shopware 5 etwa ein Storytelling-Feature enthalten, das Kunden auf eine Abenteuerreise durch den Onlineshop schicken soll. Zudem passt sich Shopware mit der neuen Version einem immer mobiler werdenden Nutzerverhalten an. Shopware 5 ist die erste Shopware-Version, die im Standard ein komplett konfigurierbares, full responsive Frontend erhält, sodass der Shop auf allen Endgeräten perfekt in Szene gesetzt wird und über eine entsprechend einfache Bedienbarkeit verfügt.
Auf dem Shopware Community Day will das Unternehmen bereits die Programmversion 5.1 mit weiteren neuen Features präsentieren. Unter dem Leitthema "Circus eCommerce" findet der Partnertag am 4. September 2015 in Ahaus statt. Weitere Informationen und Tickets gibt es unter scd.shopware.com. (mh)
http://www.channelpartner.de/a/...partner-award-ausgezeichnet,3045917
Wird aber noch kommen!! m.M
One reason investors are more excited about PayPal than eBay is the payment unit's faster growth rate. Revenue was up 19% to $8 billion last year, about double the rate of growth in the older e-commerce and auction unit. The value of all transactions handled by PayPal increased 26% to $235 billion, fed not just by the company's signature payment service but also by mobile transactions on the popular Venmo app it acquired in 2013.
Investors are also pleased that PayPal may be able to take a huge leap forward by striking deals with other e-commerce companies such as Amazon (AMZN) or Alibaba (BABA) that likely wouldn't do business with a unit of competitor eBay. One of the biggest risks to PayPal's continued growth is the threat of being eclipsed by a home-grown payment solution from one of those companies.
Alibaba's Ant Financial Services Group just raised equity financing at a reported valuation of $45 billion, coincidentally the same value put on PayPal by when-issued share trading. Separated from Alibaba rival eBay, PayPal might be able to forge an alliance with Ant, or at least help process transactions via its Braintree unit. Braintree already helps merchants work with mobile payments platforms from both Apple (AAPL) and Google (GOOGL) .
PayPal's $45 billion valuation is 30 times what eBay originally paid for the company back in 2002, but it may give some investors pause. It earned only $419 million in net income last year, though it would have done much better absent a one-time $713 million tax charge for repatriating cash held overseas in previous years. Already, the company has posted first quarter 2015 net income of $248 million.
At 5.6 times last year's revenue, PayPal would trade at a higher price-to-sales ratio than other tech companies like Google, Apple or Amazon. But that's also about half the level of the giants of the financial transaction world, Visa (V) and Mastercard (MA).
PayPal CEO Dan Schulman, a longtime veteran of American Express (AXP), is also planning a shopping spree as his company will leave the nest with some $6 billion in net cash. Schulman's wasted no time, announcing the $1 billion acquisition of international money transfer start-up Xoom last week. There are plenty more areas PayPal could explore via acquisitions, including bulking up its presence at real world retail establishments.
There's one more path that could reward investors who buy even at the $45 billion valuation. Billionaire investor Carl Icahn, who badgered eBay into the spin-off, has pushed for PayPal to be acquired by a larger player. That could provide a quick payoff, though maybe not the long-term home run some investors desire.
http://finance.yahoo.com/news/...-before-ebay-spin-off-153406026.html
Read more at http://www.insidermonkey.com/blog/...pany-360505/#XYKcEsVUEX53juTZ.99
Cantor Fitzgerald initiated its coverage of Paypal Holdings Inc (NASDAQ:PYPLV) with a Buy rating and a $45 price target, representing roughly a 30% upside from the current price of the when-issued shares.
It notes that with trading due to commence in a regular way on Monday, PayPal’s large addressable opportunity both on and offline, strong brand and leading position online, and its expectation for mid-teens growth over the next 3 to 5 years are key reasons why it finds the shares compelling at current levels.
With Cantor’s estimates for over $280 billion in total payment volume (TPV) and around $9 billion in revenue for 2015, up-mid and high-teens respectively, PayPal already commands a significant share of the e-commerce payment market. Now, with mobile blurring the lines between traditional commerce and e-commerce, PayPal is leveraging its large user base and global reach to address the broader opportunity in global commerce payments, estimated at a $25 price target. PayPal commands about 1% of this opportunity.
Cantor expects PayPal’s TPV and revenue growth to be driven by a number of factors including increased active user and global expansion. PayPal has made several moves to expand and strengthen its position within new emerging segments, each with a distinct growth profile. The company acquired BillMeLater to offer loans and Venoma to offer P2P payments.
The Street is mainly bullish on PayPal stocks. Out of five analysts who cover the stock, three suggest a Buy, while two indicate a Hold. The 12-month average target price stands at $43.06, implying upward potential of 24.1 over the trading price of $36.49 as of 09:56 AM EDT.
Get more EBAY research by Bidness Etc
Deutsche Bank started coverage on shares of Paypal Holdings (NASDAQ:PYPLV) in a research note released on Monday morning, Market Beat reports. The firm issued a buy rating and a $42.00 target price on the stock.
Deutsche Bank has also updated their ratings on a number of other stocks in the last week. The firm upgraded shares of Sanofi SA to a buy rating. Also, Deutsche Bank reiterated its hold rating on shares of BT Group plc. They have a GBX 425 ($6.59) price target on that stock. Finally, Deutsche Bank reiterated its buy rating on shares of The Carlyle Group LP. They have a $33.00 price target on that stock, down previously from $34.00.
PYPLV has been the subject of a number of other recent research reports. Analysts at Cantor Fitzgerald initiated coverage on shares of Paypal Holdings in a research note on Monday. They set a buy rating and a $45.00 price target on the stock. Analysts at Monness Crespi & Hardt initiated coverage on shares of Paypal Holdings in a research note on Thursday. They set a neutral rating on the stock. Finally, analysts at Goldman Sachs initiated coverage on shares of Paypal Holdings in a research note on Tuesday, July 7th. They set a buy rating and a $48.00 price target on the stock.
Paypal Holdings (NASDAQ:PYPLV) traded up 6.08% during mid-day trading on Monday, hitting $36.80. 1,840,210 shares of the company’s stock traded hands. Paypal Holdings has a one year low of $33.98 and a one year high of $39.75. The stock’s 50-day moving average is $35.44 and its 200-day moving average is $35.44.
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gruß losjetzt
nur Ebay = EBAYV http://www.ariva.de/ebay_inc-aktie
Paypal + Ebay = EBAY http://www.ariva.de/ebay-aktie
PYPLV ca. 38$ + EBAYV 27$ = EBAY Preis von ca. 65$