PayPal (NASDAQ:PYPL) shares are trading higher on Monday after Credit Suisse maintained an Outperform rating on the stock and raised its price target from $140 to $190.
PayPal was spun off from eBay in 2015 and provides electronic payment solutions to merchants and consumers, with a focus on online transactions. The company had over 300 million active accounts at the end of 2019, including 20 million merchant accounts. The company also owns Xoom, an international money transfer business, and Venmo, a person-to-person payment platform.
PayPal shares were trading up 3.77% at $170.56 during the time of publication on Monday. The stock has a 52-week range between $171.12 and $82.07.