Core Insights - PayPal Holdings Inc. (NASDAQ:PYPL) is facing downward revisions in price targets from multiple financial institutions due to slower growth and take rate compression [1][2][3] Group 1: Price Target Adjustments - Truist lowered its price target on PayPal to $39 from $58, maintaining a Sell rating, citing slower volume growth and take rate compression as reasons for the adjustment [1] - RBC Capital reduced its price target to $59 from $91 while keeping an Outperform rating, indicating that a recent CEO change reflects a slow turnaround in Branded Checkout's TPV growth, leading to a significant reduction in FY 2026 guidance [2] - Susquehanna adjusted its price target to $63 from $90 with a Positive rating, noting a slowdown in branded checkout growth to 1% on a currency-neutral basis, down from 5% in Q3, driven by challenges in both US and international retail [3] Group 2: Company Overview - PayPal operates a technology platform that facilitates digital payments for merchants and consumers globally, functioning as a two-sided network that connects these two groups [4]

JACKSONVILLE, Fla.--(BUSINESS WIRE)--Paysafe (NYSE: PSFE), a leading payments platform, today announced the expansion of its U.S. Agent Recruitment Program, opening applications to early career professionals and community connected sellers who want to build a long-term career in payments as independent agents. New agents will help small and midsized businesses (SMBs), from local retail and restaurants to healthcare, petroleum, and local service providers, as well as other businesses, accept car. ...

Financial Data and Key Metrics Changes - For the full year 2025, adjusted net revenue was $9.32 billion, a 6% increase from the prior year on a constant currency basis, excluding dispositions [40] - Adjusted operating margin improved by 100 basis points to 44.2% for the full year [41] - Adjusted earnings per share (EPS) for the full year was $12.22, a 12% increase compared to 2024 [42] - In Q4, adjusted net revenue was $2.32 billion, reflecting a 6% increase year-over-year on a constant currency basis [42] - Adjusted operating margin for Q4 increased by 80 basis points to 44.7% [42] - Adjusted EPS for Q4 was $3.18, a 12% increase compared to the prior year [42] Business Line Data and Key Metrics Changes - Merchant Solutions segment achieved adjusted net revenue of $1.78 billion for Q4, reflecting growth of slightly over 6% [43] - POS and software business within Merchant Solutions achieved high single-digit growth in Q4 [43] - Genius's payments attach rate in the enterprise segment nearly doubled in Q4, enhancing customer lifetime value [44] - Integrated and embedded business grew in the high single digits in Q4 [44] - Core payments delivered mid-single-digit growth in Q4, benefiting from strong distribution channels [45] Market Data and Key Metrics Changes - Revenue in Central Europe grew in the mid-teens, with Greece experiencing one of the strongest quarters on record [45] - New sales in the U.S. during Q4 were 35% higher than the prior year, marking the strongest quarter in several years [45] Company Strategy and Development Direction - The acquisition of Worldpay is seen as a pivotal moment for the company, aimed at creating a better Global Payments with enhanced scale and capabilities [4][5] - The company plans to invest approximately $1 billion annually in commerce technology to expand omni-channel offerings and advance AI-enabled product roadmaps [12] - Four strategic pillars include pure-play focus, client-centric approach, enhanced capabilities through innovation, and global reach with local expertise [16] - In 2026, the company will focus on integrating Worldpay, accelerating go-to-market strategies, expanding Genius, and leveraging AI for new revenue streams [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving $200 million in annualized revenue and $600 million in expense synergies over the next three years from the Worldpay integration [17] - The company expects constant currency adjusted net revenue growth of approximately 5% for 2026, with modest acceleration anticipated in the second half of the year [50][51] - Management highlighted the importance of a disciplined integration plan to support future growth and the need to unite as one global team [38][39] Other Important Information - The company generated strong free cash flow in 2025, with over 100% adjusted free cash flow conversion [7] - A $2.5 billion share repurchase authorization was approved, with an immediate repurchase of $550 million of shares [8] - The company plans to return more than $2 billion of capital to shareholders in 2026 through share repurchases and dividends [52] Q&A Session Summary Question: What is the split between enterprise and SMB growth? - Management indicated that the merchant business exited the year a little over 6% organically, with SMB approximately 50% of revenue composition and enterprise and platforms each representing about 25% [59][62] Question: What is the trajectory of the expected synergies? - The company expects to realize $600 million in cost synergies over three years, with $70 million-$80 million expected in 2026 [69][70] Question: How is the cross-sell into the SMB business at Worldpay progressing? - Management expressed optimism about cross-selling capabilities into the existing Worldpay base and leveraging distribution platforms to enhance market penetration [71][72]

Global Payments (NYSE:GPN) Q4 2025 Earnings call February 18, 2026 08:00 AM ET Company ParticipantsAndrew Schmidt - Managing DirectorBob Cortopassi - COOCameron Bready - CEODarrin Peller - Managing DirectorDominic Ball - VP of Equity ResearchJosh Whipple - CFONate Rozof - SVP of Investor RelationsTien-Tsin Huang - Managing DirectorConference Call ParticipantsDan Dolev - Senior Analyst of FinTech Equity ResearchDave Koning - Equity Research AnalystDave Koning - Senior Research AnalystJames Cantwell - Senior ...

Financial Data and Key Metrics Changes - For the full year 2025, adjusted net revenue was $9.32 billion, a 6% increase from the prior year on a constant currency basis, excluding dispositions [38] - Adjusted operating margin improved by 100 basis points to 44.2% for the full year [38] - Adjusted earnings per share (EPS) for the full year was $12.22, a 12% increase compared to 2024 [39] - In Q4, adjusted net revenue was $2.32 billion, reflecting a 6% increase from the prior year on a constant currency basis [39] - Adjusted operating margin for Q4 increased by 80 basis points to 44.7% [39] Business Line Data and Key Metrics Changes - Merchant Solutions segment achieved adjusted net revenue of $1.78 billion for Q4, with growth slightly over 6% on a constant currency basis [40] - Genius's payments attach rate in the enterprise segment nearly doubled in Q4, enhancing customer lifetime value [41] - New POS locations in Q4 were 25% higher than the previous year, with enterprise restaurant rooftop count over 50% higher than the end of 2024 [40] Market Data and Key Metrics Changes - In the U.S., new sales in Q4 were 35% higher than the prior year, marking the strongest quarter in several years [42] - Internationally, revenue in Central Europe grew in the mid-teens, with Greece experiencing one of its strongest quarters on record [42] Company Strategy and Development Direction - The acquisition of Worldpay is seen as a pivotal moment for the company, aimed at creating a better Global Payments with enhanced scale and capabilities [3][4] - The company plans to invest approximately $1 billion annually in commerce technology to drive innovation and expand omni-channel offerings [11] - Four strategic pillars include pure-play focus, client-centric approach, enhanced capabilities, and global reach [12][14] Management's Comments on Operating Environment and Future Outlook - The company expects constant currency adjusted net revenue growth of approximately 5% for 2026, with modest acceleration anticipated in the second half of the year [46][50] - Management remains optimistic about the integration of Worldpay and the potential for revenue synergies, particularly in the SMB channel [68][70] Other Important Information - The company generated strong free cash flow in 2025, with over 100% adjusted free cash flow conversion [5] - A $2.5 billion share repurchase authorization was approved, with an immediate repurchase of $550 million of shares [7] Q&A Session Summary Question: What is the split between enterprise and SMB growth? - Management indicated that the merchant business exited the year a little over 6% organically, with SMB approximately 50% of revenue composition and the other 50% split between platforms and enterprise [57][59] Question: What is the trajectory of expected synergies? - The company expects to realize $600 million in cost synergies over three years, with $70 million-$80 million expected in 2026 [66] Question: How is the cross-sell into the SMB business at Worldpay progressing? - Management expressed optimism about cross-selling capabilities into the existing Worldpay base and leveraging distribution platforms to enhance market penetration [68][70]

Group 1: Gator Capital Management Performance - Gator Capital Management's Gator Financial Partners, LLC returned 4.14%, Gator Offshore Partners, Ltd. returned 3.96%, and Gator Qualified Partners, LLC returned 6.10% in Q4 2025, outperforming the S&P 500 Total Return Index's 2.65% and the S&P 1500 Financials Index's 1.95% [1] - For the full year 2025, Gator Funds achieved returns of 31.94%, 30.90%, and 16.92%, significantly exceeding both the broader market and the Financials sector benchmark [1] Group 2: PayPal Holdings, Inc. Performance - PayPal Holdings, Inc. (NASDAQ:PYPL) stock closed at $40.81 per share on February 17, 2026, with a one-month return of -26.98% and a twelve-month decline of 47.92% [2] - PayPal's revenue for FY 2025 grew by 4% on a spot and currency-neutral basis, reaching $33.2 billion [4] Group 3: Investment Sentiment on PayPal - Carillon Eagle Small Cap Growth Fund identified PayPal as a top detractor for FY 2025 and exited its position in Q4 due to ongoing business challenges highlighted by management during conferences [3] - PayPal Holdings, Inc. is not among the 30 Most Popular Stocks Among Hedge Funds, with 86 hedge fund portfolios holding the stock at the end of Q3 2025, down from 89 in the previous quarter [4]

Core Perspective - The UK is moving towards establishing payment card sovereignty to reduce reliance on US-owned networks like Visa and Mastercard, reflecting a broader trend of payment independence in Europe [3][5][9]. Group 1: Current Landscape - Approximately 95% of UK card transactions are processed through Visa and Mastercard, indicating a high level of centralization and concentration risk in the payment system [3][4][13]. - The UK's National Payments Vision emphasizes the need for infrastructure modernization to enhance resilience and reduce dependency on a few global technology providers [3][4]. Group 2: Domestic Payment Initiatives - UK banks are accelerating plans for a domestic card payments alternative, which has been discussed for years as a government-backed initiative to provide a backup to existing systems [4][12]. - The move towards a dedicated domestic payments rail is significant, as it aims to align incentives, liability frameworks, and technology to build consumer trust and merchant acceptance [17][18]. Group 3: Challenges and Considerations - Open Banking is not yet a complete substitute for card payments, as it lacks the full range of use cases and consumer familiarity associated with traditional cards [14][16]. - Structural challenges exist within the Open Banking sector, including profitability issues and intense competition, which hinder its ability to serve as a core national payments infrastructure [15][16]. Group 4: Strategic Importance - Payments are increasingly recognized as strategic national infrastructure, necessitating coordinated public-private investment and interoperability with European schemes to ensure resilience [12][18]. - The geopolitical landscape has heightened concerns about the UK's exposure to risks associated with reliance on US payment networks, making the development of domestic alternatives more critical [8][9].

February 18, 2026 2025 Results & 2026 Outlook Cameron Bready Chief Executive Officer Bob Cortopassi President and Chief Operating Officer Josh Whipple Chief Financial Officer © 2026 Global Payments Inc. All rights reserved. © 2026 Global Payments Inc. All rights reserved. DC2-Restricted Today's Speakers 2 Forward-looking statements This presentation may contain certain forward-looking statements within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. These ...

Core Insights - The case alleges that the defendants created a false impression regarding their possession of reliable information about PayPal's projected revenue and growth [1] Group 1 - The lawsuit focuses on misleading statements made by the defendants concerning PayPal's financial outlook [1] - The implications of the case could affect investor confidence in PayPal's future performance [1]

By Valentina Za MILAN, Feb 18 (Reuters) - The digital euro will be designed to ensure it protects European card schemes and keep banks at the core of the euro zone payments system, a ‌senior European Central Bank policymaker said on Wednesday. As a currency managed directly by the ECB through ‌accounts users will open with the central bank, the digital euro project has sparked fears among banks they will lose their role in ​handling payments. Digitalisation of payments has reduced the role of cash, th ...