Shares of PayPal (NASDAQ: PYPL) popped as much as 7% this morning as the company hosted a virtual investor day and offered bullish commentary regarding its future. By the close on Thursday, the stock had given up almost all of those gains amid broad market volatility and was up less than 1%.
The online payments specialist said that it expects total payment volume (TPV) to triple by 2025. For reference, PayPal reported TPV of $936 billion for 2020. Active accounts are forecast to jump from 377 million currently to 750 million over the same time frame, as PayPal continues to expand its product offerings to bolster consumer engagement on its platform.