Cantor Fitzgerald suggests $70 per share PayPal offer
In a client note dated Thursday, Cantor Fitzgerald released a sum‑of‑the‑parts valuation indicating that a potential acquisition offer for PayPal could be raised to approximately $70 per share, which exceeds the $60.50 per share bid that has been reported. The firm cited recent CNBC media reports describing a consortium of bidders—Stripe, Block and Advent International—intending to purchase PayPal for roughly $53 billion, equivalent to $60.50 per share. Cantor stated it has no independent confirmation of those details but evaluated whether the proposed amount is sufficient to close a deal.
Analyst Ramsey El‑Assal constructed a “Deal” case that backs into the assumptions supporting the existing $60.50 per share offer and then developed a peer‑multiple‑based sum‑of‑the‑parts model. The latter suggests that an offer near $70 per share may more fully capture the intrinsic value of PayPal, based on earnings contributions from its primary businesses: Venmo, Branded, Unbranded/Braintree, and other peer‑to‑peer services.
Cantor also highlighted possible downstream effects on the broader payments ecosystem should the transaction proceed. PayPal’s business model depends on processing partners such as Global Payments and Fiserv, which are competitors to Stripe. Additionally, Synchrony issues and processes the PayPal Mastercard credit card, while The Bancorp Bank issues and processes PayPal and Venmo debit cards; Stripe is noted as a smaller competitor on the card‑issuer processing side.