Paypal Holdings Inc (NASDAQ:PYPL) is getting investors’ attention after announcing a partnership with Apple after which users will be able to shop on iTunes using their PayPal accounts. The stock has gained around 33% over the last 3 months. However, the stock pared some of its gains on Wednesday after investment firm SunTrust Robinson Humphrey downed its rating for the stock, citing concerns over valuation.
Paypal Holdings Inc (NASDAQ:PYPL) is using the strategy of partnering with industry players to increase its footprint. Recently, it partnered with LendUp, a company which provides “quality” credit to financially unprivileged people. Paypal Holdings Inc (NASDAQ:PYPL)’s Peer-to-Peer payments platform Venmo is getting a huge fame among millennials, so much so that analysts think the platform would pose a threat to credit cards in the near future.