The world of fintech is full of options and PayPal Holdings, one of the pioneers in the sector, has a lucrative place. A survey by PYMNTS Intelligence titled “The Global Appeal of an Everyday App: Focus on Europe” revealed that PayPal is the favorite payment app of Europeans.
The survey includes data collected in Germany, France, the United Kingdom, Italy and Spain, as well as from corresponding consumers in the United States and Australia.
The study revealed that more than a third of respondents in Europe preferred the PayPal application, gaining a percentage of 36%. Ahead of 29% of card networks, 27% of banks, 21% and 19% for Amazon and Google.
But there are also some differences between the countries of the community. In Germany, consumers trust PayPal more than banks: 20% prefer the former compared to 18% who prefer the latter. On the contrary, in France, the preference depends on the banks, with 22% in favor of them, compared to 13% in favor of PayPal.
In the US there are also preferences for PayPal and banks, but they have confidence in big Big Tech companies like Amazon and Apple.
Another fact in favor of PayPal in a separate survey revealed that 60% of consumers trust stored payment credentials more than banks because of the greater data protection offered by the fintech.
What do the analysts say?
According to Tipranks, PayPal has reviews from 33 analysts divided into 22 buys and 11 holds. The average price target is $84.17 with a high forecast of $388 and a low forecast of $55. The average price target represents a 48.13% change from Friday’s close.
Oppenheimer analyst Dominick Gabriele rates the company a buy with a price target of $72.
Harshita Rawat, analyst at Berstein, recommends holding with a price target of $57.
PayPal Holdings closed Thursday’s session lower at $56.83. The 70-period moving average is above the last two candles, the RSI is below 54 points and the MACD fast line (blue) is just above the zero level.
Medium-term support is at $50.25. Meanwhile, the Ei indicators are mixed.