PayPal should be bought on earnings selloff, says Monness Crespi

Monness Crespi reiterates a Buy rating on PayPal (PYPL) with a $110 price target following the Q3 report. PayPal delivered a “mild” sales miss and meaningful beat on transaction margin, the analyst tells investors in a research note. The firm says the stock thesis is unchanged and the shares should be bought on today’s selloff. Monness continues to believe management is being prudently conservative around embedded Fastlane adoption and Venmo monetization assumptions in building to its outlook , which is “the right move – as it allows for upward revisions to continue.”