PayPal CEO seeing improved eComm market By Investing.com

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PayPal CEO seeing improved eComm market

Published Mar 22, 2023 18:34

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By Davit Kirakosyan

PayPal (NASDAQ:PYPL) President and CEO Dan Schulman said he is seeing an improved eComm market during the in-person meeting with Deutsche Bank (ETR:DBKGn) yesterday.

The e-commerce industry is experiencing better-than-expected growth, with initial projections for fiscal 2023 indicating slight negative to slightly positive growth, but now indicating mid-single growth to slightly higher growth.

According to the firm, PayPal aims to maintain its stable branded growth share and gain more unbranded share through Braintree. The company is confident about achieving margin expansion for several years and is actively working to regain its share in markets where it is losing ground, such as the UK and Australia.

The search for a new CEO will be gradual, and Dan Schulman is open to retiring earlier or later as needed.

Although Shop Pay does represent a competitive threat, PayPal views its relationship with Shopify (NYSE:SHOP) as a competition and “believes SHOP will continue to represent a healthy portion of the overall business.”

With regards to Apple (NASDAQ:AAPL), management noted that while Apple Pay has certain advantages on mobile (e.g., exclusive access to NFC chip, OS integration), they believe PayPal is closing the gap in areas such as authentication methodology which should help in the competitive dynamic over time.

Deutsche Bank reiterated its Buy rating and $100 price target on the stock.

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PayPal CEO seeing improved eComm market

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