PayPal Holdings, Inc. (NASDAQ:PYPL) shares rose over 2% on Monday, adding to gains from the last month.
What To Know: During the month of June, it was announced that private credit funds and accounts managed by KKR would purchase up to €40 billion ($43.6 billion) buy now, pay later (BNPL) loan receivables originated by PayPal in France, Germany, Italy, Spain and the United Kingdom. The purchase was through the signing of an exclusive multi-year agreement for a €3 billion replenishing loan commitment.
The company also announced last month that Tap to Pay on Android is launching for Venmo business profile users in the U.S. The new feature will allow users to accept contactless payments directly on their Android mobile devices with no additional hardware or upfront cost.
PayPal received several price target changes from analysts in June, ranging from $72 to $92.
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PYPL Price Action: PayPal shares were up nearly 6% over the last month.
Shares of PYPL closed Monday up 2.05% at $68.10, according to Benzinga Pro.
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