Can PayPal Go as High as This Wall Street Firm Thinks?
By Nick Riso, August 9, 2024
PayPal's Recent Performance
PayPal (PYPL) has been one of the more disappointing stocks on the market. Shares are down more than 50% from their all-time high, and the company has struggled to keep up with the growth of competitors like Venmo and Stripe.
Analyst Optimism
However, one Wall Street analyst thinks PayPal is poised for a rebound. In a recent note to clients, Jeremy Bowman of Goldman Sachs raised his price target on PayPal to $90, up from $75. Bowman believes that PayPal is well-positioned to benefit from the growth of e-commerce, and that the company's recent investments in new products and services will pay off in the long run.
Analyst Consensus
PayPal currently has an average brokerage recommendation (ABR) of 1.53 on a scale of 1 to 5, with 1 being a strong buy and 5 being a strong sell. The ABR is based on the recommendations of 25 analysts.
Analysts are generally positive on PayPal's long-term prospects. According to FactSet, the average analyst forecast for PayPal's EPS is $4.89 for 2025, with the lowest EPS forecast at $4.64 and the highest EPS forecast at $5.12.
Conclusion
PayPal bulls aren't hard to find. For the most part, recent analyst takes on PayPal are neutral to favorable. One Wall Street analyst thinks there are good times ahead, and a rebound years in the making.
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