JPMorgan Sees PayPal At 'Starting Line' Of AI Commerce Revolution After OpenAI Deal
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JPMorgan views PayPal as at the 'starting line' of the AI commerce revolution following its partnership with OpenAI. PayPal reported a 7% year-on-year revenue growth, surpassing expectations, and has an Overweight rating with an $85 price target from analyst Tien-tsin Huang. The collaboration will enable PayPal to utilize ChatGPT's instant checkout. Despite a 3.04% drop in share price to $70.79, PayPal's market cap stands at $66.62 billion, with a P/E ratio of 14.66, indicating potential valuation attractiveness.
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