.September 18, 2024, Wednesday at 8:00:12 PM

Goldman Sachs has upgraded PayPal Holdings, Inc. (NASDAQ:PYPL) to Buy, showing confidence in the stock post new partnership with Amazon. PayPal’s stock is trading at $73.12, with a market cap of around $74.75 billion and a trading volume of 13,335,628 shares on NASDAQ.

The partnership with Amazon is expected to boost growth for PayPal, utilizing Amazon’s large customer base and improving the Buy with Prime feature. This collaboration has already seen a 50% increase in usage, enhancing the shopping experience for Amazon Prime members and expanding PayPal’s reach.

The announcement of the partnership was made during Amazon’s Accelerate seller conference, showcasing the strategic move to enhance merchant and shopper offerings. By enabling Prime members to use PayPal for purchases on third-party stores through Amazon, the collaboration aims to increase sales and customer satisfaction, benefiting both companies.

PayPal’s stock price has shown a positive movement, currently trading at $73.12, representing a 1.881% increase from the previous close. With a market cap of approximately $74.75 billion and a trading volume of 13,335,628 shares on NASDAQ, PayPal demonstrates strong financial health and market presence.

Goldman Sachs’ upgrade of PayPal to Buy underscores the potential benefits of the partnership with Amazon on PayPal’s financial performance and stock value. This strategic move is expected to attract more users to PayPal, leveraging Amazon’s vast customer base and solidifying PayPal’s position in the digital payments industry.